Van ECK Associates Corp Sells 90,797 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Van ECK Associates Corp decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) by 59.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 62,662 shares of the company’s stock after selling 90,797 shares during the quarter. Van ECK Associates Corp’s holdings in Robinhood Markets were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in Robinhood Markets by 22.8% during the 3rd quarter. CWM LLC now owns 4,879 shares of the company’s stock worth $49,000 after buying an additional 906 shares during the period. Covestor Ltd bought a new position in Robinhood Markets during the 1st quarter worth $28,000. Allspring Global Investments Holdings LLC increased its position in Robinhood Markets by 89.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,707 shares of the company’s stock worth $55,000 after buying an additional 3,175 shares during the period. Quantbot Technologies LP bought a new position in shares of Robinhood Markets in the second quarter worth $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Robinhood Markets in the second quarter worth $29,000. Institutional investors own 58.81% of the company’s stock.

Insider Activity

In related news, insider Baiju Bhatt sold 29,366 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $11.63, for a total value of $341,526.58. Following the transaction, the insider now directly owns 399,032 shares of the company’s stock, valued at $4,640,742.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Baiju Bhatt sold 29,366 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $11.63, for a total value of $341,526.58. Following the transaction, the insider now directly owns 399,032 shares of the company’s stock, valued at $4,640,742.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $8.13, for a total value of $101,625.00. Following the completion of the transaction, the insider now directly owns 334,573 shares in the company, valued at $2,720,078.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,374 shares of company stock valued at $4,138,493. 15.31% of the stock is currently owned by corporate insiders.

Robinhood Markets Trading Up 3.1 %

Shares of HOOD stock opened at $9.32 on Tuesday. The business’s 50-day moving average price is $8.93 and its 200-day moving average price is $9.60. Robinhood Markets, Inc. has a 12 month low of $6.81 and a 12 month high of $16.49. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of -1.28 and a beta of 0.86.

Robinhood Markets (NASDAQ:HOODGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. Robinhood Markets had a negative return on equity of 11.92% and a negative net margin of 149.53%. The firm had revenue of $361.00 million for the quarter, compared to analyst estimates of $372.02 million. On average, sell-side analysts predict that Robinhood Markets, Inc. will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOOD. Barclays decreased their price target on Robinhood Markets from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, December 19th. JMP Securities decreased their price target on Robinhood Markets from $28.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Tuesday, January 10th. Morgan Stanley decreased their price target on Robinhood Markets from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. KeyCorp decreased their price target on Robinhood Markets from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, January 9th. Finally, The Goldman Sachs Group decreased their price target on Robinhood Markets from $12.50 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, January 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.57.

Robinhood Markets Company Profile

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Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

Further Reading

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOODGet Rating).

Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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