Corient Private Wealth LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 5,221.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,559,848 shares of the company’s stock after buying an additional 2,511,743 shares during the period. Corient Private Wealth LLC’s holdings in Robinhood Markets were worth $289,519,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Evolution Wealth Advisors LLC boosted its position in shares of Robinhood Markets by 5.2% during the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after acquiring an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC increased its position in shares of Robinhood Markets by 4.1% in the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after purchasing an additional 98 shares during the last quarter. Kovack Advisors Inc. raised its stake in Robinhood Markets by 2.5% in the third quarter. Kovack Advisors Inc. now owns 4,121 shares of the company’s stock valued at $590,000 after purchasing an additional 100 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Robinhood Markets by 11.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after purchasing an additional 100 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC lifted its position in Robinhood Markets by 1.8% during the third quarter. Mill Creek Capital Advisors LLC now owns 6,107 shares of the company’s stock valued at $874,000 after purchasing an additional 107 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
Robinhood Markets Price Performance
Shares of Robinhood Markets stock opened at $108.15 on Friday. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86. The business’s 50 day simple moving average is $82.71 and its two-hundred day simple moving average is $91.37. The stock has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a price-to-earnings-growth ratio of 2.63 and a beta of 2.35.
Insider Transactions at Robinhood Markets
In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the sale, the insider directly owned 432,849 shares in the company, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have bought 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. 14.47% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HOOD. Citizens Jmp reiterated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research report on Thursday, May 28th. Truist Financial dropped their price target on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Morgan Stanley cut their price objective on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Needham & Company LLC increased their price objective on Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.
Check Out Our Latest Analysis on Robinhood Markets
Key Robinhood Markets News
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood announced plans to cut about 10% of its workforce, which investors are viewing as a move to improve efficiency, speed product launches, and support margins. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
- Positive Sentiment: Multiple Wall Street firms turned constructive after the layoff announcement, including Argus raising its price target on HOOD to $110 and keeping a buy rating, reinforcing the view that the stock still has room to run. Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
- Positive Sentiment: Reports that Robinhood posted record June trading volumes have boosted optimism that revenue momentum is still strong despite the restructuring. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
- Positive Sentiment: Coverage on Thursday noted HOOD was outperforming the broader market and may be breaking out above prior resistance, adding technical momentum to the rally. Stock Of The Day: Will Robinhood Break Out?
- Neutral Sentiment: Cathie Wood’s ARK Invest sold more Robinhood shares during the run-up, which is a notable flow headline but not necessarily a fundamental warning sign. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
- Neutral Sentiment: Robinhood remains highly tied to crypto and prediction-market activity, so continued upside may depend on those growth drivers and broader market conditions. Is the SpaceX IPO Enough to Rescue Robinhood Stock?
Robinhood Markets Company Profile
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.
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