Robinhood Markets, Inc. $HOOD Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. reduced its stake in Robinhood Markets by 25.8%, selling 8,000 shares during the second quarter, leaving it with 23,000 shares valued at $2.15 million.
• Robinhood reported earnings of $0.42 per share for the quarter, exceeding estimates and indicating a 45% year-over-year revenue increase to $989 million.
• Recent analyst ratings have mostly favored the stock, with twelve analysts giving it a Buy rating, and a consensus target price of $113.59, reflecting optimism in the company's future prospects.

Hennessy Advisors Inc. lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,000 shares of the company's stock after selling 8,000 shares during the quarter. Hennessy Advisors Inc.'s holdings in Robinhood Markets were worth $2,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets during the first quarter worth about $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the first quarter worth about $33,000. V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth about $36,000. Finally, Colonial Trust Advisors increased its position in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $148.67 on Friday. The stock has a market capitalization of $132.12 billion, a P/E ratio of 75.47, a P/E/G ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $22.61 and a 1 year high of $150.21. The business's fifty day moving average is $114.45 and its two-hundred day moving average is $82.60.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the previous year, the business earned $0.21 EPS. The company's revenue was up 45.0% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. JMP Securities lifted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a research report on Saturday, September 27th. Finally, Citigroup lifted their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.59.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the 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 transaction, the insider directly owned 591,887 shares in the company, valued at $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 quarter, insiders have sold 5,656,462 shares of company stock valued at $614,224,917. Insiders own 14.47% of the company's stock.

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.

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