Baker Avenue Asset Management LP has Purchased 303,000 Shares of Robinhood Markets, Inc.

In its most recent filing with the Securities & Exchange Commission, Robinhood Markets, Inc. disclosed that Baker Avenue Asset Management LP had acquired a new stake in the company during the third quarter. The institutional investor paid $303,000 for 30,032 shares of the equity of the firm.

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Robinhood Stock is Turning into a Bargain at These Levels

Recently, a number of additional institutional investors and hedge funds have also modified their holdings in HOOD. Covestor Ltd added a new $28,000 position in Robinhood Markets during the first quarter. During the second quarter, Quantbot Technologies LP acquired a new Robinhood Markets investment for around $28,000. During the second quarter, Robinhood Markets was purchased by Zurcher Kantonalbank Zurich Cantonal Bank for around $29,000. During the second quarter, Seeyond acquired a new investment in Robinhood Markets for around $43,000. Lastly, during the second quarter, American International Group Inc. acquired a new Robinhood Markets investment valued at about $48,000. 58.81% of the company's stock is held by hedge funds and institutional investors.

Insiders Place Their Bets

In other news, on Friday, February 10th, insider Baiju Bhatt sold 86,806 shares of Robinhood Markets stock. The shares were sold for a total of $866,323.88 at an average price of $9.98 per share. Following the transaction, the insider now owns 1,098,241 shares in the business, which are worth roughly $10,960,445.18. This URL will take you to a document that was submitted to the Securities & Exchange Commission that contains information about the transaction. In other news, on Monday, December 5th, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock. The shares were sold for a total of $122,125.00 at an average price of $9.77 per share. Following the transaction, the insider now owns 333,029 shares in the company, worth approximately $3,253,693.33. The transaction was announced in a filing with the Securities and Exchange Commission, which may be seen at this website. In addition, on Friday, February 10th, insider Baiju Bhatt sold 86,806 shares of Robinhood Markets stock. The shares were sold at an average price of $9.98, totaling $866,323.88. The insider now directly owns 1,098,241 shares of the company's stock, valued at approximately $10,960,445.18, following the conclusion of the transaction. This sale's disclosure may be found here. Insiders sold 599,620 shares of company stock worth $5,655,310 in the previous 90 days. Insiders now own 15.31% of the stock.

Robinhood Markets Trading Down 1.1 %

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For Robinhood Stock, the Hunter Has Become the Hunted
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On Friday, NASDAQ: HOOD opened at $9.62. The one-year low for Robinhood Markets, Inc. is $6.81 and the one-year high is $16.49. The company's 50-day and 200-day simple moving averages are $9.48 and $9.78, respectively.

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Robinhood Markets (NASDAQ: HOOD - Get Rating) recently reported quarterly earnings on February 8th. The firm announced ($0.19) earnings per share (EPS) for the quarter, which was $0.06 lower than the average estimate of ($0.13). Robinhood Markets had an 8.30% negative return on equity and a 131.63% negative net margin. The company's sales for the quarter were $380.00 million, compared to the average expectation of $395.16 million.

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The company earned ($0.49) per share in the same period last year. Revenue for the quarter increased by 4.7% over the same period the previous year. Sell-side analysts predict that Robinhood Markets, Inc. will earn -0.72 per share in the current fiscal year.

Wall Street Analyst Weigh In

HOOD has lately received attention from a number of research firms. In a research report issued on Monday, Barclays reduced their price target on Robinhood Markets from $10.00 to $9.00 and assigned the stock an "underweight" rating. In a research report issued on Thursday, February 9th, JPMorgan Chase & Co. raised their price target on Robinhood Markets from $9.00 to $11.00 and assigned the stock an "underweight" rating. In a research note issued on Monday, January 9th, Goldman Sachs Group dropped their price target on Robinhood Markets from $12.50 to $9.00 and assigned the stock a "neutral" rating. In a research report issued on Monday, December 12th, Citigroup downgraded shares of Robinhood Markets from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $11.00 to $10.00. Lastly, in a research note issued on Friday, November 4th, Mizuho raised their price target on Robinhood Markets shares from $13.00 to $14.00 and assigned the stock a "buy" rating. Three equity research analysts have given the stock a sell rating, five have given it a hold recommendation, and three have given it a buy rating. According to statistics, the company now has an average rating of "Hold" with a target price of $11.67.

In the United States, Robinhood Markets, Inc runs a financial services platform. Users may invest in equities, exchange-traded funds (ETFs), options, gold, and cryptocurrencies using its website. The company also provides a variety of learning and education solutions, including Snacks, a digest of business news, Learn, a collection of about articles, guides, tutorials, and a financial dictionary, Newsfeeds, which provide access to free premium news from various websites, including Trade Algo, Barron's, Reuters, and The Wall Street Journal, lists and alerts, which let users create their own watchlists and alerts to track securities, ETFs, and cryptocurrency, and Newsfeeds.

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