Independent Financial Group LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,559 shares of the company’s stock, valued at approximately $593,000.
A number of other large investors have also recently made changes to their positions in HOOD. State Street Corp raised its stake in Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets in the fourth quarter valued at about $1,202,160,000. Corient Private Wealth LLC raised its stake in shares of Robinhood Markets by 5,221.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after purchasing an additional 2,511,743 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Robinhood Markets by 95.7% during the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock worth $499,001,000 after purchasing an additional 2,157,372 shares during the period. Finally, Morgan Stanley boosted its position in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after buying an additional 2,061,832 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on HOOD shares. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Monday. KeyCorp increased their price objective on shares of Robinhood Markets from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho boosted their target price on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Twenty-one equities 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.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $122.22.
Insider Activity
In other Robinhood Markets news, Director Oluwadara Johnson Treseder sold 3,750 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $117.50, for a total value of $440,625.00. Following the completion of the transaction, the director owned 72,442 shares in the company, valued at approximately $8,511,935. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider owned 62,612 shares of the company’s stock, valued at approximately $7,510,935.52. This trade represents a 23.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. 13.48% of the stock is currently owned by corporate insiders.
Robinhood Markets Trading Down 1.8%
Robinhood Markets stock opened at $104.48 on Thursday. The firm has a market cap of $94.09 billion, a PE ratio of 50.47, a P/E/G ratio of 2.25 and a beta of 2.33. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The stock’s 50 day simple moving average is $95.75 and its two-hundred day simple moving average is $88.67.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm earned $0.37 earnings per share. Robinhood Markets’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current year.
Key Stories Impacting Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: KeyCorp and Needham both raised their price targets on Robinhood, with KeyCorp moving to $125 and Needham to $123, while maintaining positive ratings. Bernstein also reiterated a bullish view, arguing the stock’s prediction-markets business could become a major growth driver. Analyst price target updates for Robinhood Markets
- Positive Sentiment: Analysts expect Robinhood to beat second-quarter earnings estimates, which supports sentiment ahead of next week’s results and could fuel buying if the company delivers strong trading, crypto, or prediction-market revenue. Robinhood expected to beat earnings estimates
- Positive Sentiment: Robinhood continues to highlight growth initiatives, including its blockchain efforts, tokenized assets, and a new partnership with WHOOP that adds perks for Platinum Card holders, reinforcing the company’s push beyond core trading. WHOOP teams up with Robinhood on new member benefit
- Neutral Sentiment: Recent coverage also emphasized Robinhood Chain’s rapid early adoption and the possibility that prediction-market revenue could overtake crypto, which is constructive strategically but still largely forward-looking. Robinhood’s crypto bet and Robinhood Chain growth
- Negative Sentiment: Despite the upbeat analyst commentary, the stock has been slipping in the latest session, and investors may also be cautious ahead of the upcoming earnings release after Robinhood previously missed on both EPS and revenue in its last quarterly report. Robinhood suffers a larger drop than the general market
- Negative Sentiment: Competition in crypto and trading-related products remains intense, with rivals such as Kraken and Coinbase expanding offerings, which could pressure Robinhood’s growth narrative over time. Kraken expands tokenized stocks
Robinhood Markets 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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