Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 70.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389,573 shares of the company’s stock after selling 948,022 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Robinhood Markets were worth $9,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets in the third quarter worth $33,000. ORG Partners LLC bought a new position in Robinhood Markets in the second quarter worth $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets during the second quarter valued at $40,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on HOOD shares. Keefe, Bruyette & Woods decreased their price target on shares of 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. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays boosted their price target on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JMP Securities raised their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, KeyCorp boosted their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $28.66.

Insider Transactions at Robinhood Markets

In other news, 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 of the company’s stock, valued at $20,201,164.44. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Warnick sold 25,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $35.22 on Friday. The firm has a market capitalization of $31.14 billion, a P/E ratio of 59.70, a PEG ratio of 0.82 and a beta of 1.84. Robinhood Markets, Inc. has a one year low of $7.98 and a one year high of $38.11. The business has a fifty day moving average of $26.67 and a 200 day moving average of $22.80.

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

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.