Circle Wealth Management LLC Has $1.48 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Circle Wealth Management LLC raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 146.0% in the third quarter, HoldingsChannel.com reports. The firm owned 63,083 shares of the company’s stock after purchasing an additional 37,441 shares during the quarter. Circle Wealth Management LLC’s holdings in Robinhood Markets were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HOOD. FMR LLC increased 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 worth $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC boosted its position 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 valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after buying an additional 1,137,677 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Robinhood Markets by 2.9% during the 2nd 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 during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock worth $114,953,194 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. Piper Sandler increased their price target on Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Needham & Company LLC raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, November 18th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group reduced their price objective on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.59.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $37.54 on Friday. Robinhood Markets, Inc. has a 52-week low of $8.69 and a 52-week high of $39.74. The stock’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $23.49. The stock has a market capitalization of $33.18 billion, a P/E ratio of 63.63, a P/E/G ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

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.