Commonwealth Equity Services LLC Takes $356,000 Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Commonwealth Equity Services LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,483 shares of the company’s stock, valued at approximately $356,000.

Other large investors also recently added to or reduced their stakes in the company. United Maritime Capital LLC acquired a new position in Robinhood Markets during the third quarter worth approximately $938,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Robinhood Markets in the third quarter valued at approximately $192,573,000. KPCB DGF III Associates LLC bought a new stake in shares of Robinhood Markets in the third quarter valued at approximately $103,696,000. Strategic Advisors LLC bought a new stake in shares of Robinhood Markets in the third quarter valued at approximately $1,590,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Robinhood Markets in the third quarter valued at approximately $148,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ HOOD opened at $15.17 on Friday. Robinhood Markets, Inc. has a twelve month low of $14.73 and a twelve month high of $85.00. The firm has a fifty day moving average of $23.04.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, October 26th. The company reported ($2.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.37) by ($0.69). The company had revenue of $364.90 million during the quarter, compared to analyst estimates of $437.55 million. Robinhood Markets had a negative net margin of 183.63% and a negative return on equity of 282.13%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post -0.26 EPS for the current fiscal year.

In other Robinhood Markets news, insider Baiju Bhatt sold 120,651 shares of the stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $34.86, for a total transaction of $4,205,893.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 27,182 shares of the stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $23.88, for a total value of $649,106.16. The disclosure for this sale can be found here. Insiders sold 444,683 shares of company stock valued at $13,310,501 over the last 90 days.

Several equities research analysts recently issued reports on the company. Piper Sandler cut their price target on Robinhood Markets from $38.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, January 10th. Zacks Investment Research cut Robinhood Markets from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup cut their target price on Robinhood Markets from $62.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 1st. KeyCorp cut their target price on Robinhood Markets from $50.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Robinhood Markets from $17.00 to $15.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.96.

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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately 650 articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; and lists, which allow users to create custom watchlists to monitor securities, ETFs, and cryptocurrencies, as well as cash management services.

Recommended Story: How to Use a Moving Average for TradingĀ 

Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.