Charles Schwab Investment Management Inc. Raises Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,581,465 shares of the company’s stock after purchasing an additional 1,137,677 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of Robinhood Markets worth $107,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HM Payson & Co. grew its position in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank purchased a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth approximately $33,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets in the 2nd quarter worth approximately $40,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HOOD shares. The Goldman Sachs Group lowered their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. KeyCorp boosted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Barclays boosted their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Bank of America raised their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.59.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $37.85 on Tuesday. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 64.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84. The business has a 50-day moving average of $27.27 and a 200 day moving average of $23.14. Robinhood Markets, Inc. has a 12 month low of $8.21 and a 12 month high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This trade represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,685,549 shares of company stock valued at $114,953,194. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.