Hennessy Advisors Inc. Sells 4,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Hennessy Advisors Inc. lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,000 shares of the company's stock after selling 4,000 shares during the quarter. Hennessy Advisors Inc.'s holdings in Robinhood Markets were worth $1,290,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. FMR LLC raised its stake in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Newlands Management Operations LLC grew its holdings in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares in the last quarter. Geode Capital Management LLC raised its position in Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares during the last quarter. Renaissance Technologies LLC raised its position in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after acquiring an additional 52,700 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at $584,142.27. The trade was a 98.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,650,974 shares of company stock valued at $142,977,123. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $1.80 during trading hours on Tuesday, hitting $74.95. The company had a trading volume of 26,551,033 shares, compared to its average volume of 27,387,077. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $77.80. The firm has a market cap of $66.37 billion, a PE ratio of 59.50, a PEG ratio of 4.53 and a beta of 2.25. The firm has a 50-day moving average of $57.07 and a 200 day moving average of $49.08.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HOOD. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. KeyCorp decreased their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald dropped their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.