Robinhood Markets, Inc. (NASDAQ:HOOD) is SRN Advisors LLC’s 8th Largest Position

SRN Advisors LLC raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 83.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 97,722 shares of the company’s stock after purchasing an additional 44,583 shares during the period. Robinhood Markets accounts for about 2.0% of SRN Advisors LLC’s portfolio, making the stock its 8th largest position. SRN Advisors LLC’s holdings in Robinhood Markets were worth $2,289,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HOOD. Signaturefd LLC lifted its stake in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Castleview Partners LLC boosted its holdings in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after buying an additional 582 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after buying an additional 610 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after acquiring an additional 710 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley boosted their price target on Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Citigroup increased their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and an average target price of $24.97.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock valued at $110,241,632 in the last quarter. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Trading Down 0.6 %

Shares of NASDAQ HOOD opened at $27.06 on Friday. The company has a 50 day simple moving average of $22.84 and a two-hundred day simple moving average of $21.13. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 180.40 and a beta of 1.84. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $27.75.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. Analysts forecast that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

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.