Robinhood Markets, Inc. (NASDAQ:HOOD) Position Increased by Commerce Bank

Commerce Bank increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,245 shares of the company’s stock after buying an additional 423 shares during the quarter. Commerce Bank’s holdings in Robinhood Markets were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Robinhood Markets during the third quarter worth $365,000. Banque Cantonale Vaudoise raised its holdings in shares of Robinhood Markets by 77.0% during the third quarter. Banque Cantonale Vaudoise now owns 132,523 shares of the company’s stock worth $3,104,000 after acquiring an additional 57,663 shares in the last quarter. Caprock Group LLC raised its holdings in shares of Robinhood Markets by 1.3% during the third quarter. Caprock Group LLC now owns 100,527 shares of the company’s stock worth $2,354,000 after acquiring an additional 1,256 shares in the last quarter. GLOBALT Investments LLC GA raised its holdings in shares of Robinhood Markets by 2.3% during the third quarter. GLOBALT Investments LLC GA now owns 56,162 shares of the company’s stock worth $1,315,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Robinhood Markets by 1,008.4% during the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after acquiring an additional 13,725 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $37.65 on Thursday. The firm has a fifty day moving average of $27.55 and a 200-day moving average of $23.29. Robinhood Markets, Inc. has a 52-week low of $8.35 and a 52-week high of $39.74. The stock has a market cap of $33.28 billion, a price-to-earnings ratio of 63.81, a P/E/G ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results 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 for 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 firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,685,549 shares of company stock worth $114,953,194. Corporate insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on HOOD. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, November 18th. JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. KeyCorp raised their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Piper Sandler raised their target price on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.59.

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.