The Manufacturers Life Insurance Company Has $931,000 Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

The Manufacturers Life Insurance Company cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 71.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,740 shares of the company's stock after selling 100,162 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Robinhood Markets were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HOOD. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after buying an additional 410 shares during the period. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets during the 2nd quarter valued at $33,000. ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets in the third quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the second quarter valued at about $40,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares in the company, valued at approximately $23,656,275. This represents a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company's stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares of the company's stock, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,851,175 shares of company stock worth $169,980,708 in the last ninety days. 19.95% of the stock is owned by insiders.

Robinhood Markets Trading Up 2.2 %

HOOD stock traded up $0.87 during mid-day trading on Friday, hitting $40.20. The stock had a trading volume of 18,243,081 shares, compared to its average volume of 16,801,117. The firm has a fifty day simple moving average of $31.35 and a 200 day simple moving average of $24.85. Robinhood Markets, Inc. has a 52 week low of $10.38 and a 52 week high of $42.76. The firm has a market capitalization of $35.54 billion, a P/E ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. KeyCorp lifted their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Citigroup lifted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company 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.