PNC Financial Services Group Inc. Boosts Stock Holdings in Robinhood Markets, Inc. $HOOD

PNC Financial Services Group Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 30.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,161 shares of the company’s stock after purchasing an additional 12,686 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Robinhood Markets were worth $7,755,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in HOOD. Empowered Funds LLC raised its position in shares of Robinhood Markets by 46.7% in the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after buying an additional 15,885 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Robinhood Markets during the second quarter worth about $751,000. International Assets Investment Management LLC acquired a new stake in Robinhood Markets during the second quarter worth about $209,000. Chicago Partners Investment Group LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter worth about $371,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Robinhood Markets by 0.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,560 shares of the company’s stock valued at $2,008,000 after purchasing an additional 175 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HOOD shares. Cantor Fitzgerald dropped their target price on shares of Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC decreased their price objective on shares of Robinhood Markets from $135.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Mizuho dropped their price objective on shares of Robinhood Markets from $172.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Robinhood Markets from $152.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.71.

Robinhood Markets Trading Up 0.6%

Shares of HOOD stock opened at $75.65 on Friday. The firm has a fifty day simple moving average of $104.32 and a 200-day simple moving average of $117.37. The company has a market capitalization of $68.02 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.27 and a beta of 2.43. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares in the company, valued at $56,817,485.56. The trade was a 21.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the transaction, the chief technology officer directly owned 26,725 shares in the company, valued at approximately $3,534,648.50. The trade was a 18.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 706,413 shares of company stock worth $85,161,009. 14.47% of the stock is owned by insiders.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.