Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 31.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 68,408 shares of the company's stock after acquiring an additional 16,219 shares during the period. Toronto Dominion Bank's holdings in Robinhood Markets were worth $1,602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOOD. Baker Avenue Asset Management LP grew its holdings in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock valued at $10,874,000 after purchasing an additional 203,354 shares in the last quarter. Bridgewater Associates LP boosted its stake in Robinhood Markets by 100.4% in the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock valued at $7,751,000 after acquiring an additional 165,791 shares in the last quarter. EULAV Asset Management grew its stake in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company's stock worth $12,881,000 after buying an additional 100,000 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in shares of Robinhood Markets by 376.5% in the 3rd quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company's stock valued at $3,395,000 after acquiring an additional 114,525 shares during the period. Finally, Quadrature Capital Ltd increased its stake in Robinhood Markets by 821.8% in the third quarter. Quadrature Capital Ltd now owns 202,623 shares of the company's stock valued at $4,749,000 after purchasing an additional 180,641 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD stock traded up $3.00 during midday trading on Monday, hitting $43.20. 36,520,996 shares of the stock were exchanged, compared to its average volume of 16,904,479. The stock's 50-day moving average price is $31.70 and its 200-day moving average price is $25.04. The stock has a market cap of $38.19 billion, a price-to-earnings ratio of 73.78, a PEG ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $43.83.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS 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 in the prior year, the firm earned ($0.09) earnings per share. Robinhood Markets's quarterly revenue was up 36.4% on a year-over-year basis. Research analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the sale, the insider now directly owns 1,070,000 shares of the company's stock, valued at $25,059,400. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,037,689 shares of company stock worth $177,092,487 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. Morgan Stanley raised shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Finally, JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.13.

Robinhood Markets Company 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.