Garden State Investment Advisory Services LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Garden State Investment Advisory Services LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,219 shares of the company’s stock, valued at approximately $263,000.

A number of other institutional investors have also recently made changes to their positions in HOOD. Allspring Global Investments Holdings LLC grew its stake in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new stake in Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC increased its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. Renaissance Technologies LLC raised its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on HOOD. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $55.00 in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.13.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. Insiders have sold 6,037,689 shares of company stock valued at $177,092,487 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 2.2 %

Robinhood Markets stock opened at $40.20 on Friday. The business has a 50-day simple moving average of $31.70 and a two-hundred day simple moving average of $24.98. The company has a market cap of $35.54 billion, a P/E ratio of 68.14, a P/E/G ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $42.76.

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

Robinhood Markets Company 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.