Hennessy Advisors Inc. Acquires New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Hennessy Advisors Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 35,000 shares of the company's stock, valued at approximately $1,304,000.

Several other large investors have also recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC lifted 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 worth $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP purchased a new stake in Robinhood Markets in the third quarter worth $79,780,000. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Robinhood Markets by 486.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock worth $103,906,000 after buying an additional 2,313,213 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock valued at $271,708,000 after buying an additional 1,895,427 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $2.07 during trading on Friday, reaching $48.15. 35,128,062 shares of the company were exchanged, compared to its average volume of 17,235,492. The stock's 50 day simple moving average is $38.63 and its two-hundred day simple moving average is $28.25. The company has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a PEG ratio of 0.58 and a beta of 2.07. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $49.27.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 net margin of 21.80% and a return on equity of 7.52%. The firm's quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.91 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $228,251.34. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,700,658 shares of company stock valued at $140,360,682. 19.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HOOD. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Needham & Company LLC restated a "buy" rating and set a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. JMP Securities upped their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. KeyCorp increased their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein lifted their price objective 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.07.

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.