Robinhood Markets, Inc. (NASDAQ:HOOD) Position Trimmed by Point72 Europe London LLP

Point72 Europe London LLP lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 46.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,183 shares of the company’s stock after selling 74,917 shares during the period. Point72 Europe London LLP’s holdings in Robinhood Markets were worth $2,018,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the third quarter valued at about $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the second quarter worth about $33,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $37.54 on Friday. The business’s 50-day simple moving average is $28.14 and its 200-day simple moving average is $23.49. Robinhood Markets, Inc. has a 52 week low of $8.69 and a 52 week high of $39.74. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 63.63, a P/E/G ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock worth $114,953,194 in the last quarter. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HOOD. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Keefe, Bruyette & Woods decreased their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Piper Sandler upped their price target on Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Sanford C. Bernstein boosted their price objective 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. Finally, The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $30.59.

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.