DGS Capital Management LLC Purchases New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

DGS Capital Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,239 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HOOD. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter worth $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the 3rd quarter valued at $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in Robinhood Markets during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted 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. KeyCorp upped their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $51.12 on Friday. The firm has a market capitalization of $45.19 billion, a P/E ratio of 86.65, a P/E/G ratio of 0.67 and a beta of 2.07. The business has a 50 day simple moving average of $40.38 and a 200 day simple moving average of $29.17. Robinhood Markets, Inc. has a 12-month low of $10.51 and a 12-month high of $52.06.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm posted ($0.09) EPS. The business’s revenue was up 36.4% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 108,964 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,291,524 shares of company stock worth $170,349,862. 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.