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

M&T Bank Corp decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,345 shares of the company’s stock after selling 369 shares during the period. M&T Bank Corp’s holdings in Robinhood Markets were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. HM Payson & Co. lifted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the third quarter worth $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets during the second quarter valued at $40,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred 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 $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now owns 2,521 shares in the company, valued at $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,037,689 shares of company stock worth $177,092,487. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Trading Up 7.5 %

Shares of NASDAQ:HOOD opened at $43.20 on Tuesday. The company has a market capitalization of $38.19 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $43.83. The firm’s 50-day moving average is $32.10 and its 200 day moving average is $25.19.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised 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. JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

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.