106,986 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Eagle Asset Management Inc.

Eagle Asset Management Inc. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 106,986 shares of the company’s stock, valued at approximately $2,506,000.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares in the last quarter. Intech Investment Management LLC increased its holdings in Robinhood Markets by 871.9% during the 3rd quarter. Intech Investment Management LLC now owns 192,960 shares of the company’s stock worth $4,519,000 after purchasing an additional 173,107 shares during the period. EULAV Asset Management raised its position in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after purchasing an additional 100,000 shares in the last quarter. Commerce Bank raised its position in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth $365,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HOOD. Keefe, Bruyette & Woods decreased their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Bank of America boosted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. JMP Securities increased their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group dropped their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.59.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meyer Malka sold 105,875 shares of Robinhood Markets stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the sale, the director now owns 28,930,243 shares of the company’s stock, valued at approximately $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. Insiders sold 4,685,549 shares of company stock worth $114,953,194 in the last 90 days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 3.3 %

HOOD opened at $37.85 on Tuesday. The company has a market cap of $33.46 billion, a P/E ratio of 64.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84. The firm’s 50-day moving average price is $27.27 and its 200-day moving average price is $23.14. Robinhood Markets, Inc. has a 52-week low of $8.21 and a 52-week high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last issued 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). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, research analysts anticipate that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

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.