Toronto Dominion Bank Acquires 16,219 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Toronto Dominion Bank increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,408 shares of the company’s stock after purchasing an additional 16,219 shares during the period. Toronto Dominion Bank’s holdings in Robinhood Markets were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Robinhood Markets by 31.3% in the 3rd 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. State Street Corp boosted its stake 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 purchasing an additional 1,085,679 shares during the period. Geode Capital Management LLC grew its holdings in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC increased its position in Robinhood Markets by 37.7% in the 2nd 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. lifted its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $55.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $38.13.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $40.20 on Monday. The firm has a market capitalization of $35.54 billion, a P/E ratio of 68.14, a P/E/G ratio of 0.76 and a beta of 2.09. The stock has a fifty day moving average price of $31.70 and a two-hundred day moving average price of $25.04. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s 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 of the company’s stock, valued at approximately $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,037,689 shares of company stock valued at $177,092,487. 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.