Stifel Financial Corp Sells 398 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Stifel Financial Corp reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,319 shares of the company’s stock after selling 398 shares during the quarter. Stifel Financial Corp’s holdings in Robinhood Markets were worth $616,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HOOD. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Robinhood Markets by 20.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,481,794 shares of the company’s stock valued at $104,964,000 after acquiring an additional 769,281 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Robinhood Markets by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after acquiring an additional 112,967 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 5.5 %

Shares of HOOD stock opened at $39.58 on Thursday. The stock has a market cap of $34.99 billion, a PE ratio of 67.09, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $43.83. The business has a 50-day simple moving average of $33.83 and a 200-day simple moving average of $26.00.

Robinhood Markets (NASDAQ:HOOD) 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). The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on HOOD shares. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $55.00 in a report on Monday, November 25th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.20.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,043,565 shares of company stock valued at $177,315,305. Corporate 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.