Westpac Banking Corp reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 69.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,125 shares of the company’s stock after selling 7,174 shares during the period. Westpac Banking Corp’s holdings in Robinhood Markets were worth $217,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC raised its holdings in shares of Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after buying an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. Swiss RE Ltd. acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. Finally, MV Capital Management Inc. bought a new stake in Robinhood Markets in the fourth quarter valued at $27,000. Institutional investors own 93.27% of the company’s stock.
Trending Headlines about Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Several analysts turned more constructive on Robinhood, including KeyCorp raising its price target to $125 and maintaining an overweight rating, while Needham and other reports pointed to further upside ahead of Q2 earnings.
- Positive Sentiment: Robinhood expanded its product ecosystem with a partnership with WHOOP that gives Platinum Card holders a complimentary annual WHOOP Peak membership, supporting its premium-card strategy.
- Positive Sentiment: Bernstein said Robinhood’s prediction-markets business could scale meaningfully, projecting it could reach $1.7 billion by 2028 and potentially overtake crypto revenue sooner than expected.
- Neutral Sentiment: Robinhood is set to report second-quarter results next week, and recent earnings previews suggest investors are focused on whether the company can beat expectations and sustain momentum.
- Neutral Sentiment: The company’s new premium card and growing Gold/Platinum membership base, including 1 million Gold cards, highlight product adoption, but these developments are not immediate catalysts by themselves.
- Negative Sentiment: HOOD is being dragged down by a broader pullback in tech stocks, which has weighed on risk assets and high-beta names like Robinhood.
- Negative Sentiment: ARK Invest’s continued selling of Robinhood shares is adding pressure to sentiment, even though the firm’s moves do not necessarily reflect Robinhood’s fundamentals.
Robinhood Markets Stock Down 2.8%
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have issued reports on HOOD. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a research note on Thursday, July 2nd. Loop Capital set a $110.00 target price on shares of Robinhood Markets in a research note on Wednesday, June 17th. China Renaissance assumed coverage on shares of Robinhood Markets in a report on Tuesday, July 7th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a report on Thursday, May 28th. 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, the company has an average rating of “Moderate Buy” and an average target price of $122.22.
Check Out Our Latest Analysis on HOOD
Insider Buying and Selling
In other news, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the sale, the insider owned 62,612 shares in the company, valued at $7,510,935.52. The trade was a 23.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares of the company’s stock, valued at $316,858,235.98. The trade was a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company’s stock.
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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