M&T Bank Corp Purchases 13,468 Shares of Robinhood Markets, Inc. $HOOD

M&T Bank Corp lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 39.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,510 shares of the company’s stock after acquiring an additional 13,468 shares during the quarter. M&T Bank Corp’s holdings in Robinhood Markets were worth $4,448,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC raised its holdings in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $973,122,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets during the second quarter worth approximately $951,479,000. Vanguard Group Inc. lifted its holdings in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. boosted its stake in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.6%

Shares of NASDAQ:HOOD opened at $137.08 on Friday. The firm has a market cap of $123.26 billion, a price-to-earnings ratio of 56.88, a PEG ratio of 3.00 and a beta of 2.43. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86. The company’s fifty day simple moving average is $133.09 and its 200 day simple moving average is $108.96.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.17 EPS. The company’s revenue was up 100.0% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 48,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total value of $6,798,493.50. Following the sale, the insider owned 70,279 shares in the company, valued at approximately $9,881,930.19. The trade was a 40.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total transaction of $6,066,500.00. Following the transaction, the insider directly owned 480,949 shares of the company’s stock, valued at $58,353,542.17. This represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,929,294 shares of company stock worth $502,634,988 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on HOOD. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a report on Monday. Zacks Research upgraded Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Finally, Citigroup increased their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $136.95.

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.