Baker Avenue Asset Management LP Has $10.87 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Baker Avenue Asset Management LP grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 77.9% in the 3rd quarter, Holdings Channel reports. The firm owned 464,306 shares of the company’s stock after acquiring an additional 203,354 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Robinhood Markets were worth $10,874,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HOOD. HM Payson & Co. increased its stake in Robinhood Markets by 53.5% during the 3rd 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. Signaturefd LLC lifted its stake in Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares during the period. Castleview Partners LLC lifted its position in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after buying an additional 582 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after purchasing an additional 598 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after buying an additional 610 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on 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, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,854,493 shares of company stock worth $118,173,265. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

HOOD traded up $1.18 during trading hours on Friday, hitting $30.54. 22,564,144 shares of the stock were exchanged, compared to its average volume of 17,334,226. The stock has a market cap of $27.00 billion, a price-to-earnings ratio of 51.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.84. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $30.63. The stock has a 50-day simple moving average of $24.17 and a 200-day simple moving average of $21.80.

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). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The company’s revenue was up 36.4% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. JMP Securities increased their price objective on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and an average price target of $25.17.

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.