Ribbit Management Company LLC Has $863.95 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Ribbit Management Company LLC lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,211,623 shares of the company’s stock after acquiring an additional 4,540 shares during the period. Robinhood Markets makes up 57.9% of Ribbit Management Company LLC’s investment portfolio, making the stock its biggest position. Ribbit Management Company LLC owned about 4.10% of Robinhood Markets worth $863,948,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in HOOD. FMR LLC boosted its stake in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC boosted its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 1,137,677 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after buying an additional 112,967 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $4,815,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,685,549 shares of company stock worth $114,953,194 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 3.4 %

HOOD stock opened at $37.65 on Thursday. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 63.81, a PEG ratio of 0.88 and a beta of 1.84. Robinhood Markets, Inc. has a twelve month low of $8.35 and a twelve month high of $39.74. The business’s fifty day simple moving average is $27.55 and its two-hundred day simple moving average is $23.29.

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 analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Research analysts expect that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HOOD. Bank of America raised their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $30.59.

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.