Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Cut by Amalgamated Bank

Amalgamated Bank cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,024 shares of the company’s stock after selling 1,157 shares during the period. Amalgamated Bank’s holdings in Robinhood Markets were worth $820,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the 1st quarter valued at $34,000. Empowered Funds LLC acquired a new position in Robinhood Markets during the first quarter worth about $262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Robinhood Markets by 25.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 35,347 shares of the company’s stock worth $712,000 after acquiring an additional 7,271 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Robinhood Markets by 33.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 244,627 shares of the company’s stock valued at $4,924,000 after acquiring an additional 61,933 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $84,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HOOD shares. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group reduced their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Piper Sandler lifted their price target on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, KeyCorp upped their price objective on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.10.

Robinhood Markets Trading Up 1.0 %

NASDAQ HOOD opened at $32.22 on Friday. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $34.32. The firm’s fifty day simple moving average is $25.20 and its 200-day simple moving average is $22.19. The company has a market capitalization of $28.48 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 0.79 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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 firm had revenue of $637.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.09) earnings per share. As a group, analysts predict that Robinhood Markets, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the transaction, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,710,549 shares of company stock worth $115,477,194. Insiders own 19.95% of the company’s stock.

About Robinhood Markets

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.