Rakuten Securities Inc. Trims Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Rakuten Securities Inc. lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 22.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,565 shares of the company’s stock after selling 733 shares during the quarter. Rakuten Securities Inc.’s holdings in Robinhood Markets were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Robinhood Markets by 87.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Robinhood Markets by 146.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after purchasing an additional 690,467 shares during the last quarter. Finally, O Neil Global Advisors Inc. purchased a new stake in shares of Robinhood Markets in the second quarter valued at $2,298,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the stock in a transaction that occurred 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 owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the sale, the chief financial officer now owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Up 0.6 %

Shares of NASDAQ:HOOD opened at $33.00 on Wednesday. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.84. The company has a 50 day moving average of $24.69 and a two-hundred day moving average of $22.05. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $34.32.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly 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). The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, October 31st. KeyCorp upped their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.10.

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.