Edgestream Partners L.P. Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Edgestream Partners L.P. decreased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 37.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,503 shares of the company’s stock after selling 74,968 shares during the period. Edgestream Partners L.P.’s holdings in Robinhood Markets were worth $2,892,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Circle Wealth Management LLC boosted its holdings in shares of Robinhood Markets by 146.0% in the 3rd quarter. Circle Wealth Management LLC now owns 63,083 shares of the company’s stock valued at $1,477,000 after buying an additional 37,441 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Robinhood Markets by 34.2% in the 3rd quarter. Verition Fund Management LLC now owns 81,843 shares of the company’s stock valued at $1,917,000 after buying an additional 20,838 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Robinhood Markets by 31.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock valued at $444,000 after buying an additional 4,487 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of Robinhood Markets by 297.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 14,700 shares of the company’s stock valued at $344,000 after buying an additional 11,000 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in shares of Robinhood Markets by 151.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 83,041 shares of the company’s stock valued at $1,984,000 after buying an additional 50,066 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders sold 4,685,549 shares of company stock worth $114,953,194 in the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HOOD. KeyCorp upped their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Piper Sandler increased their price target on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays increased their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Robinhood Markets Stock Down 0.3 %

Shares of HOOD opened at $37.54 on Monday. The company has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $23.67. The company has a market capitalization of $33.18 billion, a PE ratio of 63.63, a P/E/G ratio of 0.87 and a beta of 1.84. Robinhood Markets, Inc. has a 52-week low of $8.69 and a 52-week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 21.80% and a return on equity of 7.52%. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. On average, research analysts anticipate that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

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.