Park National Corp OH Makes New Investment in Robinhood Markets, Inc. $HOOD

Park National Corp OH acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,757 shares of the company’s stock, valued at approximately $7,983,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI raised its stake in shares of Robinhood Markets by 32.3% in the first quarter. National Bank of Canada FI now owns 3,518 shares of the company’s stock valued at $146,000 after acquiring an additional 859 shares during the period. HighTower Advisors LLC grew its holdings in Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Robinhood Markets by 56.1% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 23,763 shares of the company’s stock worth $989,000 after purchasing an additional 8,542 shares during the period. Dimensional Fund Advisors LP lifted its stake in Robinhood Markets by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315,500 shares of the company’s stock worth $138,005,000 after purchasing an additional 21,574 shares during the last quarter. Finally, Aberdeen Group plc purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $765,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HOOD shares. Cantor Fitzgerald reduced their price target on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a report on Thursday. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Robinhood Markets in a research report on Friday, December 5th. Zacks Research raised shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.32.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the sale, the chief technology officer owned 26,725 shares of the company’s stock, valued at $3,534,648.50. This trade represents a 18.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The SEC filing for this sale provides additional information. Insiders have sold 3,686,763 shares of company stock valued at $475,858,262 in the last ninety days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 3.5%

Robinhood Markets stock opened at $115.26 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The business has a fifty day moving average of $131.46 and a two-hundred day moving average of $112.74. The firm has a market cap of $103.64 billion, a P/E ratio of 47.83, a P/E/G ratio of 2.40 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.