Joel Isaacson & Co. LLC Buys Shares of 12,728 Robinhood Markets, Inc. (NASDAQ:HOOD)

Joel Isaacson & Co. LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,728 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets in the second quarter valued at about $33,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets during the 1st quarter worth approximately $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 0.6 %

NASDAQ:HOOD opened at $27.06 on Friday. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $27.75. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 180.40 and a beta of 1.84. The company’s 50-day moving average is $22.84 and its two-hundred day moving average is $21.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bank of America raised their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods lowered their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Barclays raised their price objective on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Hold” and an average price target of $24.97.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,639,654 shares of company stock valued at $110,241,632 in the last quarter. 19.95% of the stock is currently owned by company insiders.

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.