True Wealth Design LLC Invests $30,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

True Wealth Design LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,267 shares of the company’s stock, valued at approximately $30,000.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in Robinhood Markets by 31.3% in the third 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. Renaissance Technologies LLC raised 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 valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares during the period. Dimensional Fund Advisors LP grew its position in Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after purchasing an additional 112,967 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 0.3 %

Shares of HOOD opened at $37.54 on Monday. Robinhood Markets, Inc. has a twelve month low of $8.69 and a twelve month high of $39.74. The firm has a market capitalization of $33.18 billion, a P/E ratio of 63.63, a PEG ratio of 0.87 and a beta of 1.84. The firm’s 50-day moving average is $28.43 and its two-hundred day moving average is $23.67.

Robinhood Markets (NASDAQ:HOOD) last announced 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 firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. Analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Insider Activity

In related news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $735,988,413.52. This represents a 9.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,685,549 shares of company stock worth $114,953,194 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HOOD shares. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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.