Investment Management Corp of Ontario Raises Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Investment Management Corp of Ontario boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 50.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,525 shares of the company’s stock after purchasing an additional 5,900 shares during the period. Investment Management Corp of Ontario’s holdings in Robinhood Markets were worth $410,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. FMR LLC grew its holdings in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 2,094,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 1,137,677 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Robinhood Markets by 20.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock valued at $104,964,000 after acquiring an additional 769,281 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 112,967 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 7.1 %

Robinhood Markets stock opened at $41.67 on Friday. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $42.76. The company has a market capitalization of $36.84 billion, a price-to-earnings ratio of 70.63, a price-to-earnings-growth ratio of 0.93 and a beta of 2.09. The business’s fifty day simple moving average is $30.09 and its two-hundred day simple moving average is $24.33.

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 firm 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%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HOOD. KeyCorp raised their target price on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday. Barclays raised their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Finally, JMP Securities raised their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,991,091 shares of company stock worth $172,716,066. Corporate insiders own 19.95% of the company’s stock.

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.