MML Investors Services LLC Acquires 19,027 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

MML Investors Services LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 58.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,839 shares of the company's stock after acquiring an additional 19,027 shares during the period. MML Investors Services LLC's holdings in Robinhood Markets were worth $1,214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HOOD. Main Management ETF Advisors LLC bought a new position in Robinhood Markets in the third quarter worth approximately $1,872,000. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Robinhood Markets by 821.8% in the 3rd quarter. Quadrature Capital Ltd now owns 202,623 shares of the company's stock worth $4,749,000 after purchasing an additional 180,641 shares during the period. Quantinno Capital Management LP lifted its position in Robinhood Markets by 45.6% during the third quarter. Quantinno Capital Management LP now owns 37,867 shares of the company's stock valued at $887,000 after purchasing an additional 11,859 shares in the last quarter. Finally, Redwood Investment Management LLC lifted its position in Robinhood Markets by 4.1% during the third quarter. Redwood Investment Management LLC now owns 63,955 shares of the company's stock valued at $1,528,000 after purchasing an additional 2,514 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $0.14 on Thursday, reaching $36.94. The company's stock had a trading volume of 24,154,482 shares, compared to its average volume of 17,044,598. The company has a 50-day simple moving average of $32.87 and a 200 day simple moving average of $25.50. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $43.83. The company has a market cap of $32.65 billion, a P/E ratio of 62.61, a PEG ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the previous year, the business posted ($0.09) EPS. The firm's revenue was up 36.4% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company's stock, valued at $96,125.73. This represents a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,037,689 shares of company stock worth $177,092,487. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Morgan Stanley raised Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. KeyCorp lifted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $38.13.

About Robinhood Markets

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.