New York Life Investment Management LLC Acquires 6,996 Shares of Robinhood Markets, Inc. $HOOD

New York Life Investment Management LLC increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,107 shares of the company’s stock after acquiring an additional 6,996 shares during the quarter. New York Life Investment Management LLC’s holdings in Robinhood Markets were worth $13,175,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Crossmark Global Holdings Inc. boosted its stake in Robinhood Markets by 0.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,405 shares of the company’s stock worth $3,083,000 after purchasing an additional 102 shares during the period. Lake Street Private Wealth LLC grew its position in Robinhood Markets by 0.3% during the 3rd quarter. Lake Street Private Wealth LLC now owns 43,899 shares of the company’s stock worth $4,939,000 after purchasing an additional 114 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Robinhood Markets by 11.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,089 shares of the company’s stock valued at $109,000 after purchasing an additional 116 shares during the period. Root Financial Partners LLC increased its stake in Robinhood Markets by 5.4% in the third quarter. Root Financial Partners LLC now owns 2,510 shares of the company’s stock valued at $282,000 after purchasing an additional 129 shares during the period. Finally, Brookstone Capital Management increased its stake in Robinhood Markets by 2.5% in the third quarter. Brookstone Capital Management now owns 5,230 shares of the company’s stock valued at $588,000 after purchasing an additional 129 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research reports. UBS Group reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Friday, October 30th. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Cantor Fitzgerald dropped their price target on Robinhood Markets from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Evercore assumed coverage on Robinhood Markets in a research report on Monday, October 12th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Needham & Company LLC reduced their price objective on Robinhood Markets from $126.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.45.

Robinhood Markets News Roundup

Investors following HOOD have been watching these news items:

• Positive Sentiment: Recent quarterly figures highlight growth beyond conventional trading: Robinhood Chain generated $26 million in revenue in its first quarter on mainnet, while event-contract revenue reached $173 million, more than six times the year-earlier level. Robinhood’s Latest Earnings Report Tells You All You Need to Know About the Future of Crypto
• Neutral Sentiment: Robinhood recorded about $15 billion in October net deposits, a sign of customer-fund growth, but crypto trading volumes declined. The deposits are encouraging, though lower crypto activity could restrain transaction-related revenue. Robinhood reports about $15 billion in October net deposits as crypto volumes slide
• Negative Sentiment: Hotter-than-expected inflation data pushed Bitcoin lower and revived expectations for tighter Federal Reserve policy, pressuring crypto-exposed trading platforms including Robinhood. Continued weakness in crypto prices or activity could dampen investor sentiment and trading revenue. Inflation data drags Bitcoin lower and pressures trading platforms

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 50,912 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total value of $5,162,476.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $113.72, for a total value of $42,645,000.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares in the company, valued at $42,645,000. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,095,820 shares of company stock valued at $128,775,816. Insiders own 13.48% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $84.58 on Thursday. The stock has a market capitalization of $76.16 billion, a P/E ratio of 38.98, a P/E/G ratio of 1.81 and a beta of 2.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $139.75. The company’s fifty day moving average is $104.70 and its two-hundred day moving average is $91.95.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 2.10 earnings per share for the current year.

Robinhood Markets Company Profile

Robinhood Markets, Inc. operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services. Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.