Robinhood Markets, Inc. $HOOD Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 44.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,758 shares of the company’s stock after selling 18,939 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Robinhood Markets were worth $2,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Heritage Family Offices LLP bought a new stake in Robinhood Markets in the 3rd quarter worth about $144,000. Calamos Advisors LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $599,000. Alta Advisers Ltd lifted its position in shares of Robinhood Markets by 87.3% during the 3rd quarter. Alta Advisers Ltd now owns 5,688 shares of the company’s stock worth $640,000 after buying an additional 2,651 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Robinhood Markets by 16.2% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 7,900 shares of the company’s stock worth $889,000 after buying an additional 1,100 shares during the last quarter. Finally, Principle Wealth Partners LLC boosted its position in Robinhood Markets by 5.4% in the third quarter. Principle Wealth Partners LLC now owns 14,804 shares of the company’s stock worth $1,666,000 after purchasing an additional 758 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. Benchmark raised shares of Robinhood Markets to a “strong-buy” rating in a report on Wednesday, September 9th. Truist Financial lowered their price objective on Robinhood Markets from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Raymond James Financial reiterated a “market perform” rating on shares of Robinhood Markets in a research report on Monday, October 5th. Finally, CICC Research increased their price target on shares of Robinhood Markets from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $126.45.

Robinhood Markets Trading Up 3.2%

Robinhood Markets stock traded up $2.52 during mid-day trading on Friday, reaching $80.91. 16,452,875 shares of the company traded hands, compared to its average volume of 19,490,404. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $139.75. The firm has a market capitalization of $72.74 billion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 1.82 and a beta of 2.56. The firm’s 50 day moving average price is $105.97 and its 200 day moving average price is $92.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.24.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business posted $0.61 earnings per share. Robinhood Markets’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets, Inc. will post 2.10 earnings per share for the current fiscal year.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Cathie Wood is buying HOOD again after selling shares ahead of a steep decline, a high-profile vote of confidence that may help sentiment. Cathie Wood is buying HOOD again
• Positive Sentiment: Robinhood generated $173 million from prediction markets last quarter—more than from crypto. The segment’s growth helped offset weaker crypto sales and could provide a new revenue driver, though regulatory uncertainty remains. Robinhood’s prediction-market revenue
• Neutral Sentiment: Robinhood’s latest quarter beat analysts’ earnings-per-share estimate, but revenue came in slightly below consensus. Results also highlighted cost discipline and customer-deposit growth. Robinhood Q3 earnings call highlights
• Neutral Sentiment: Two insiders recently sold shares: Daniel Gallagher, Jr. sold 10,000 and CAO Dara Bazzano sold 4,473. Both transactions were made under pre-arranged Rule 10b5-1 plans, so they may be less informative about current views of the stock. Gallagher share sale
• Negative Sentiment: Bitcoin’s decline recently pressured Robinhood and other retail-focused fintech stocks, underscoring the risk that reduced crypto activity could weigh on results. Political shifts in Congress have also raised concerns about slower financial deregulation and greater industry scrutiny. Bitcoin and political concerns weigh on fintech shares

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $113.72, for a total transaction of $42,645,000.00. Following the completion of the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $42,645,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the sale, the insider directly owned 77,839 shares in the company, valued at $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,095,820 shares of company stock valued at $128,775,816. 13.48% of the stock is currently owned by company insiders.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.

Robinhood also offers subscription-based services through Robinhood Gold, which provides eligible customers with additional account features.