Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Avestar Capital LLC

Avestar Capital LLC lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,131 shares of the company’s stock after selling 369 shares during the period. Avestar Capital LLC’s holdings in Robinhood Markets were worth $237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. grew its position in shares of 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 purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $33,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $33,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,685,549 shares of company stock valued at $114,953,194 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $37.65 on Thursday. Robinhood Markets, Inc. has a 1 year low of $8.35 and a 1 year high of $39.74. The company’s 50 day simple moving average is $27.55 and its 200-day simple moving average is $23.29. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 63.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on HOOD shares. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price target on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Bank of America boosted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Barclays boosted their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

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.