M&T Bank Corp Sells 369 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

M&T Bank Corp trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,345 shares of the company’s stock after selling 369 shares during the quarter. M&T Bank Corp’s holdings in Robinhood Markets were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Baker Avenue Asset Management LP increased its stake in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares in the last quarter. Bridgewater Associates LP increased its position in Robinhood Markets by 100.4% during the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after buying an additional 165,791 shares in the last quarter. EULAV Asset Management increased its position in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after buying an additional 100,000 shares in the last quarter. Blueshift Asset Management LLC raised its stake in Robinhood Markets by 376.5% during the third quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock valued at $3,395,000 after buying an additional 114,525 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Robinhood Markets by 821.8% in the third quarter. Quadrature Capital Ltd now owns 202,623 shares of the company’s stock worth $4,749,000 after acquiring an additional 180,641 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several analyst reports. JMP Securities raised their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Citigroup upped their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. KeyCorp raised their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Piper Sandler upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $38.13.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the sale, the insider now owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,037,689 shares of company stock valued at $177,092,487. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $43.20 on Tuesday. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $43.83. The stock has a fifty day moving average of $32.10 and a 200 day moving average of $25.19. The stock has a market cap of $38.19 billion, a PE ratio of 73.22, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business 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%. 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 company earned ($0.09) EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Robinhood Markets 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.