Sanctuary Advisors LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 44.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,216 shares of the company's stock after purchasing an additional 19,345 shares during the period. Sanctuary Advisors LLC's holdings in Robinhood Markets were worth $1,481,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HM Payson & Co. lifted its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets in the third quarter worth about $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter valued at about $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on HOOD. JMP Securities upped their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Tuesday, November 12th. Barclays upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $26.00 to $49.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.20.
Read Our Latest Stock Report on HOOD
In related news, Director Baiju Bhatt sold 186,514 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now owns 2,521 shares of the company's stock, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares of the company's stock, valued at $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,037,689 shares of company stock valued at $177,092,487 over the last quarter. 19.95% of the stock is owned by company insiders.
Shares of NASDAQ:HOOD opened at $38.33 on Friday. The firm has a market capitalization of $33.88 billion, a PE ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $43.83. The business's 50 day moving average is $33.11 and its 200-day moving average is $25.62.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 business 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 quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current year.
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.
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