GAMMA Investing LLC Purchases 1,633 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

GAMMA Investing LLC lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 71.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,923 shares of the company’s stock after acquiring an additional 1,633 shares during the quarter. GAMMA Investing LLC’s holdings in Robinhood Markets were worth $92,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC bought a new stake in Robinhood Markets during the second quarter valued at about $33,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets during the first quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in Robinhood Markets during the second quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in Robinhood Markets during the second quarter valued at about $45,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.8 %

Shares of NASDAQ:HOOD opened at $27.00 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $27.14. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 180.00 and a beta of 1.84. The business has a 50-day moving average price of $21.30 and a 200-day moving average price of $20.65.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business earned $0.03 earnings per share. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley raised their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Hold” and a consensus target price of $24.10.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the sale, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,541,250 shares of company stock worth $107,643,767. 19.95% of the stock is owned by corporate insiders.

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.