UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 177,395 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,178,669 shares of the company’s stock after acquiring an additional 177,395 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Robinhood Markets were worth $51,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after buying an additional 1,137,677 shares during the period. Dimensional Fund Advisors LP increased its holdings in Robinhood Markets by 2.9% during the second 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of several analyst reports. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods cut their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Piper Sandler upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. Insiders have sold 4,442,910 shares of company stock valued at $110,642,151 over the last ninety days. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $38.64 on Wednesday. The stock has a 50 day moving average price of $28.73 and a 200-day moving average price of $23.84. Robinhood Markets, Inc. has a one year low of $9.33 and a one year high of $39.74. The company has a market capitalization of $34.16 billion, a P/E ratio of 65.49, a P/E/G ratio of 0.87 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS 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 analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. As a group, equities analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal 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.