35,000 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,000 shares of the company’s stock, valued at approximately $1,304,000.

Several other institutional investors also recently modified their holdings of the company. HM Payson & Co. raised its stake in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank raised its stake in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares in the last quarter. Signaturefd LLC raised its stake in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares in the last quarter. Castleview Partners LLC lifted its holdings in shares of Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after acquiring an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in shares of Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after acquiring an additional 598 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent research reports. Morgan Stanley increased their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday. Sanford C. Bernstein increased their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JMP Securities boosted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.07.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,700,658 shares of company stock worth $140,360,682 over the last 90 days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $48.15 on Friday. The stock has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. The company’s 50 day simple moving average is $38.63 and its 200-day simple moving average is $28.22. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $49.27.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.91 EPS 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.