Fred Alger Management LLC Sells 1,161,184 Shares of Robinhood Markets, Inc. $HOOD

Posted by George Bondi on Jun 17th, 2026

Fred Alger Management LLC decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 946,540 shares of the company’s stock after selling 1,161,184 shares during the period. Fred Alger Management LLC’s holdings in Robinhood Markets were worth $107,054,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Sound Income Strategies LLC lifted its stake in Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC lifted its stake in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $27,000. Swiss RE Ltd. bought a new stake in Robinhood Markets in the fourth quarter worth about $27,000. Finally, Godsey & Gibb Inc. bought a new stake in Robinhood Markets in the fourth quarter worth about $28,000. Institutional investors own 93.27% of the company’s stock.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

Positive Sentiment: Robinhood announced it will reduce its full-time workforce by roughly 10% (about 290 jobs), a move framed as streamlining operations and flattening management layers, which investors may see as margin-supportive. The subtext of Robinhood’s layoff memo: It’s not us, it’s you
Positive Sentiment: Media coverage highlighted Robinhood’s record trading traffic and new IPO-related business, reinforcing the idea that the platform is benefiting from stronger engagement and a broader product set. Robinhood Stock In Focus: Record SpaceX Traffic, New IPO Business, World Cup Bets
Positive Sentiment: Analysts and commentators continue to point to prediction markets as a potential growth engine, with some estimating a large revenue boost tied to World Cup-related betting activity. Thanks to the World Cup, Robinhood’s 2026 prediction markets revenue could skyrocket
Neutral Sentiment: Brokerage sentiment remains constructive overall, with Robinhood still carrying a consensus “Moderate Buy” rating, which supports the stock but is not a fresh catalyst. Robinhood Markets, Inc. Given Consensus Recommendation of “Moderate Buy” by Brokerages
Negative Sentiment: Recent insider sales by CFO Shiv Verma and director Baiju Bhatt may create some caution, even though both transactions were made under pre-arranged trading plans. SEC filing for Shiv Verma sale SEC filing for Baiju Bhatt sale

Robinhood Markets Stock Down 1.4%

Shares of HOOD stock opened at $96.71 on Wednesday. The firm has a market cap of $87.09 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.45 and a beta of 2.35. The company’s 50 day moving average is $81.23 and its 200 day moving average is $91.67. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.37 EPS. The company’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the transaction, the insider directly owned 432,849 shares in the company, valued at $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. Company insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Keefe, Bruyette & Woods reduced their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Barclays reduced their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $130.00 target price on shares of Robinhood Markets in a research report on Tuesday, April 14th. Finally, Zacks Research raised shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.73.

Check Out Our Latest Stock Report on Robinhood Markets

About Robinhood Markets

(Free Report)

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.