Hennessy Advisors Inc. Has $2.15 Million Stake in Robinhood Markets, Inc. $HOOD

Hennessy Advisors Inc. trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,000 shares of the company’s stock after selling 8,000 shares during the period. Hennessy Advisors Inc.’s holdings in Robinhood Markets were worth $2,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares during the period. Wellington Management Group LLP lifted its stake in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after buying an additional 486 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after buying an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets in the first quarter worth about $277,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the sale, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,656,462 shares of company stock valued at $614,224,917. 14.47% of the stock is owned by company insiders.

Robinhood Markets Stock Up 2.0%

Shares of NASDAQ HOOD opened at $148.67 on Friday. The company’s fifty day moving average is $114.45 and its 200-day moving average is $82.60. The stock has a market cap of $132.12 billion, a price-to-earnings ratio of 75.47, a P/E/G ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a twelve month low of $22.61 and a twelve month high of $150.21.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on HOOD. Needham & Company LLC increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Mizuho raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $113.59.

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.