Garden State Investment Advisory Services LLC Acquires Shares of 11,219 Robinhood Markets, Inc. (NASDAQ:HOOD)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. Cetera Advisors LLC purchased a new stake in Robinhood Markets during the 1st quarter valued at approximately $606,000. GAMMA Investing LLC raised its stake in Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares during the last quarter. DNB Asset Management AS increased its position in Robinhood Markets by 39.7% during the 2nd quarter. DNB Asset Management AS now owns 85,114 shares of the company’s stock worth $1,933,000 after purchasing an additional 24,208 shares during the period. CWM LLC increased its position in Robinhood Markets by 120.7% during the 2nd quarter. CWM LLC now owns 23,222 shares of the company’s stock worth $527,000 after purchasing an additional 12,701 shares during the period. Finally, Renaissance Capital LLC increased its position in Robinhood Markets by 43.4% during the 2nd quarter. Renaissance Capital LLC now owns 596,736 shares of the company’s stock worth $13,552,000 after purchasing an additional 180,583 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,673,049 shares of company stock worth $114,711,569. 19.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Bank of America boosted their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday. Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, November 18th. Citigroup boosted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Piper Sandler boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $37.62 on Tuesday. The business’s fifty day moving average price is $28.43 and its two-hundred day moving average price is $23.70. The stock has a market cap of $33.26 billion, a PE ratio of 63.76, a price-to-earnings-growth ratio of 0.87 and a beta of 2.08. Robinhood Markets, Inc. has a one year low of $9.33 and a one year high of $39.74.

Robinhood Markets (NASDAQ:HOOD) last announced its 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). The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

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.