Bamco Inc. NY Invests $298,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bamco Inc. NY purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,000 shares of the company's stock, valued at approximately $298,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MetLife Investment Management LLC boosted its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after buying an additional 277 shares during the last quarter. Spire Wealth Management lifted its position in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Robinhood Markets by 130.7% during the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald lowered their price target on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Citigroup decreased their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.24.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, May 5th. The stock was sold at an average price of $47.69, for a total transaction of $1,192,250.00. Following the completion of the transaction, the insider now directly owns 797,825 shares of the company's stock, valued at approximately $38,048,274.25. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 94,156 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $50.67, for a total transaction of $4,770,884.52. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at $398,418.21. This represents a 92.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,243,727 shares of company stock worth $109,688,747. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Trading Up 1.1 %

Robinhood Markets stock traded up $0.58 during mid-day trading on Friday, hitting $54.65. The company's stock had a trading volume of 44,162,835 shares, compared to its average volume of 26,187,390. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock's fifty day moving average is $43.21 and its two-hundred day moving average is $42.20. The firm has a market capitalization of $48.39 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the business posted $0.18 EPS. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.