National Bank of Canada FI Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

National Bank of Canada FI reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 99.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,499 shares of the company’s stock after selling 1,036,244 shares during the period. National Bank of Canada FI’s holdings in Robinhood Markets were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HOOD. HM Payson & Co. raised its position in shares of 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 purchasing an additional 410 shares during the period. Eastern Bank bought a new stake in Robinhood Markets during the third quarter valued at about $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the second quarter worth about $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Down 3.6 %

HOOD opened at $41.63 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83. The firm has a 50 day moving average of $32.42 and a two-hundred day moving average of $25.34. The firm has a market capitalization of $36.80 billion, a PE ratio of 70.56, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on HOOD. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, KeyCorp increased their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.13.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares in the company, valued at approximately $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,037,689 shares of company stock valued at $177,092,487 over the last ninety days. Company 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.