Hennessy Advisors Inc. Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Hennessy Advisors Inc. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,000 shares of the company’s stock, valued at approximately $1,304,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ritholtz Wealth Management acquired a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $375,000. Northside Capital Management LLC purchased a new position in Robinhood Markets during the 4th quarter worth approximately $422,000. Park Avenue Securities LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at $1,447,000. Assenagon Asset Management S.A. lifted its holdings in shares of Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after purchasing an additional 2,313,213 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $797,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. Barclays increased their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.07.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the director now directly owns 5,042 shares in the company, valued at $228,251.34. This trade represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,700,658 shares of company stock worth $140,360,682 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 4.5 %

Shares of Robinhood Markets stock opened at $48.15 on Friday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $49.27. The stock has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $28.22. The stock 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 (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (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 the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.91 earnings per share for the current year.

Robinhood Markets 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.