Sanctuary Advisors LLC Buys 19,345 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Sanctuary Advisors LLC boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 44.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,216 shares of the company's stock after buying an additional 19,345 shares during the quarter. Sanctuary Advisors LLC's holdings in Robinhood Markets were worth $1,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. raised 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 acquiring an additional 410 shares during the last quarter. True Wealth Design LLC bought a new position in Robinhood Markets during the 3rd quarter valued at approximately $30,000. Eastern Bank purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $33,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $40,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays raised Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. JMP Securities boosted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a research report on Tuesday, November 12th. Piper Sandler raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an "underweight" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $39.20.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $38.33 on Friday. The company has a market capitalization of $33.88 billion, a PE ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. The business has a fifty day moving average price of $33.11 and a 200-day moving average price of $25.62. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $43.83.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (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 firm had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same period last year, the firm posted ($0.09) earnings per share. The firm's quarterly revenue was up 36.4% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares in the company, valued at approximately $25,059,400. This represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,037,689 shares of company stock worth $177,092,487. Insiders own 19.95% of the company's stock.

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.