IFM Investors Pty Ltd Has $2.59 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

IFM Investors Pty Ltd decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 110,698 shares of the company’s stock after selling 3,206 shares during the period. IFM Investors Pty Ltd’s holdings in Robinhood Markets were worth $2,593,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HOOD. PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Eastern Bank acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $33,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $27.06 on Monday. The company has a market capitalization of $23.78 billion, a PE ratio of 180.40 and a beta of 1.84. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $27.75. The business has a 50 day simple moving average of $22.84 and a 200 day simple moving average of $21.15.

Robinhood Markets (NASDAQ:HOOD) last issued 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 return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets 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 disclosure for this sale can be found here. In the last quarter, insiders sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Piper Sandler raised their target price on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Morgan Stanley lifted their price objective on Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.97.

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.