Connor Clark & Lunn Investment Management Ltd. Has $9.12 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 70.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 389,573 shares of the company’s stock after selling 948,022 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Robinhood Markets were worth $9,124,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Robinhood Markets during the first quarter worth $270,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at about $206,000. UniSuper Management Pty Ltd lifted its position in shares of Robinhood Markets by 87.1% during the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after purchasing an additional 2,700 shares in the last quarter. Natixis purchased a new position in Robinhood Markets during the first quarter worth about $378,000. Finally, 1832 Asset Management L.P. bought a new stake in Robinhood Markets in the 1st quarter worth about $2,094,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $35.22 on Friday. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 0.82 and a beta of 1.84. The company’s fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $22.80. Robinhood Markets, Inc. has a 1 year low of $7.98 and a 1 year high of $38.11.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on HOOD. Piper Sandler lifted their target price on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays lifted their price target on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Morgan Stanley upped their price objective on Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. JMP Securities lifted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.66.

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.