Cerity Partners LLC Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cerity Partners LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,629 shares of the company’s stock after purchasing an additional 26,245 shares during the quarter. Cerity Partners LLC’s holdings in Robinhood Markets were worth $2,521,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HOOD. Renaissance Technologies LLC boosted its stake in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after buying an additional 112,967 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after acquiring an additional 193,585 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research reports. Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Piper Sandler raised their price target on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Citigroup lifted their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Robinhood Markets Trading Down 0.3 %

Shares of NASDAQ:HOOD opened at $37.54 on Monday. The company has a market cap of $33.18 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.84. Robinhood Markets, Inc. has a twelve month low of $8.69 and a twelve month high of $39.74. The company’s 50 day moving average is $28.43 and its 200 day moving average is $23.67.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,685,549 shares of company stock valued at $114,953,194. Company insiders own 19.95% of the company’s stock.

Robinhood Markets 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.