GAMMA Investing LLC Boosts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

GAMMA Investing LLC lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 49.3% in the fourth quarter, Holdings Channel reports. The firm owned 5,858 shares of the company’s stock after buying an additional 1,935 shares during the period. GAMMA Investing LLC’s holdings in Robinhood Markets were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HOOD. Versant Capital Management Inc raised its holdings in shares of Robinhood Markets by 6,799.1% during the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock valued at $856,000 after acquiring an additional 22,641 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth approximately $263,000. Franklin Resources Inc. acquired a new position in Robinhood Markets in the 3rd quarter valued at $6,321,000. Wilmington Savings Fund Society FSB purchased a new position in Robinhood Markets in the 3rd quarter valued at $351,000. Finally, Sanctuary Advisors LLC boosted its stake in Robinhood Markets by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock worth $1,481,000 after purchasing an additional 19,345 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $40.56 on Wednesday. The company’s 50 day simple moving average is $36.07 and its 200-day simple moving average is $27.10. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 68.75, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HOOD shares. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,702,320 shares of company stock valued at $138,594,491. Corporate insiders own 19.95% 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.