GAMMA Investing LLC Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

GAMMA Investing LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5,733.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,700 shares of the company's stock after purchasing an additional 335,842 shares during the period. GAMMA Investing LLC's holdings in Robinhood Markets were worth $14,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HOOD. Spire Wealth Management increased its stake in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. Yousif Capital Management LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $321,000. Choreo LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $288,000. Bleakley Financial Group LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $277,000. Finally, Consolidated Portfolio Review Corp purchased a new stake in Robinhood Markets during the fourth quarter worth about $2,305,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HOOD shares. Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Morgan Stanley increased their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Finally, JMP Securities restated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $2.37 during trading hours on Friday, hitting $74.88. The stock had a trading volume of 61,705,294 shares, compared to its average volume of 26,942,447. The stock has a market capitalization of $66.30 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $77.80. The stock's fifty day moving average is $52.58 and its two-hundred day moving average is $47.38.

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 analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm's revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 223,528 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $217,864.82. This trade represents a 97.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the sale, the insider now directly owns 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,226,771 shares of company stock valued at $111,467,774. Insiders own 14.47% of the company's stock.

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.