Van ECK Associates Corp Purchases 124,410 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,743 shares of the company’s stock after purchasing an additional 124,410 shares during the period. Van ECK Associates Corp owned 0.07% of Robinhood Markets worth $14,702,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Eastern Bank bought a new position in Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at approximately $33,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

HOOD opened at $24.96 on Wednesday. The stock’s 50 day moving average price is $23.51 and its 200-day moving average price is $21.51. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $28.58. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 0.54 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period last year, the company earned ($0.09) EPS. The business’s revenue was up 36.4% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets, Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group cut their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citigroup boosted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley raised their price target on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Hold” and an average price target of $25.17.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the transaction, the insider now owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,389,654 shares of company stock valued at $106,229,132. 19.95% of the stock is currently owned by company insiders.

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), 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.