Robinhood Markets, Inc. (NASDAQ:HOOD) is ARK Investment Management LLC's 6th Largest Position

ARK Investment Management LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,974,345 shares of the company's stock after selling 1,178,203 shares during the period. Robinhood Markets comprises 3.8% of ARK Investment Management LLC's holdings, making the stock its 6th biggest holding. ARK Investment Management LLC owned approximately 2.03% of Robinhood Markets worth $420,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new position in shares of Robinhood Markets in the third quarter worth approximately $30,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the second quarter worth approximately $33,000. ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets in the third quarter worth approximately $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets in the first quarter worth approximately $34,000. Institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 3,225,806 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Meyer Malka sold 3,225,806 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,854,493 shares of company stock worth $118,173,265. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

HOOD stock traded up $1.18 during trading on Friday, hitting $30.54. 22,529,369 shares of the company traded hands, compared to its average volume of 15,786,528. The firm has a market capitalization of $27.00 billion, a PE ratio of 49.76, a P/E/G ratio of 0.58 and a beta of 1.84. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $30.63. The company has a 50-day moving average of $23.96 and a 200-day moving average of $21.68.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same quarter last year, the business posted ($0.09) EPS. The company's quarterly revenue was up 36.4% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Morgan Stanley boosted their price target on Robinhood Markets from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Needham & Company LLC reissued a "hold" rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods dropped their price target 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.17.

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.