Tidal Investments LLC Cuts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tidal Investments LLC lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,338,781 shares of the company's stock after selling 338,772 shares during the period. Tidal Investments LLC owned 0.15% of Robinhood Markets worth $31,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HOOD. FMR LLC grew its stake in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after buying an additional 3,368,118 shares in the last quarter. State Street Corp raised its holdings in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC lifted its position in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after buying an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company's stock worth $107,298,000 after buying an additional 1,137,677 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 3.9 %

Shares of HOOD stock traded up $1.49 during trading hours on Thursday, hitting $39.33. The company's stock had a trading volume of 26,207,698 shares, compared to its average volume of 16,810,338. The stock has a market cap of $34.77 billion, a PE ratio of 64.14, a price-to-earnings-growth ratio of 0.93 and a beta of 2.08. The company has a 50 day moving average of $31.01 and a 200 day moving average of $24.74. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $42.76.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HOOD. KeyCorp lifted their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Sanford C. Bernstein increased their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Morgan Stanley upgraded 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 report on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.13.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets 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 transaction, the insider now owns 1,057,500 shares in the company, valued at approximately $23,656,275. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,851,175 shares of company stock valued at $169,980,708 over the last ninety days. Corporate insiders own 19.95% of the company's stock.

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.