Mediolanum International Funds Ltd lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 95.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,021 shares of the company’s stock after selling 165,949 shares during the period. Mediolanum International Funds Ltd’s holdings in Robinhood Markets were worth $457,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Truist Financial Corp raised its holdings in shares of Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Robinhood Markets by 86.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after acquiring an additional 46,688 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Robinhood Markets by 26.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after purchasing an additional 76,075 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Robinhood Markets by 196.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after purchasing an additional 478,919 shares during the period. Finally, Nordea Investment Management AB grew its position in Robinhood Markets by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 712,721 shares of the company’s stock worth $81,585,000 after purchasing an additional 35,471 shares in the last quarter. 93.27% of the stock is owned by institutional investors.
More Robinhood Markets News
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Bernstein raised its price target on HOOD to $160 from $130 and said Robinhood’s prediction markets business could become a major revenue driver, potentially overtaking crypto revenue. Bernstein raises Robinhood price target to $160 as prediction markets revenue could overtake crypto
- Positive Sentiment: Needham & Company also lifted its price target on HOOD to $123 from $97 and maintained a buy rating, reinforcing the view that the stock still has upside from current levels.
- Positive Sentiment: Bloomberg reported that analysts see Robinhood’s prediction market revenue becoming larger than its crypto business, which supports the bullish narrative that HOOD is building new high-growth income streams. Robinhood Prediction Market Revenue to Top Crypto, Analysts Say
- Positive Sentiment: Investor sentiment around crypto-related stocks improved as Bitcoin recovered, helping lift HOOD alongside peers like Circle and Strategy. Circle, Robinhood, Strategy stocks surge on Bitcoin comeback
Insider Buying and Selling at Robinhood Markets
Analyst Ratings Changes
Several analysts have issued reports on HOOD shares. Wall Street Zen raised shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Mizuho raised their target price on Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. KeyCorp reiterated an “overweight” rating and set a $100.00 price target on shares of Robinhood Markets in a report on Monday, June 1st. Sanford C. Bernstein upped their price target on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $121.13.
Get Our Latest Analysis on Robinhood Markets
Robinhood Markets Stock Performance
Robinhood Markets stock opened at $106.36 on Wednesday. The firm has a market cap of $95.78 billion, a PE ratio of 51.38, a P/E/G ratio of 2.10 and a beta of 2.33. The firm’s 50 day moving average price is $95.20 and its two-hundred day moving average price is $88.73. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (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 company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business earned $0.37 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.
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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