Hsbc Holdings PLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 9.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,449,346 shares of the company’s stock after purchasing an additional 129,095 shares during the period. Hsbc Holdings PLC’s holdings in Robinhood Markets were worth $164,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in HOOD. Sound Income Strategies LLC boosted 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 during the last quarter. CYBER HORNET ETFs LLC grew its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC purchased a new stake in Robinhood Markets during the fourth quarter worth about $27,000. MV Capital Management Inc. purchased a new stake in Robinhood Markets during the fourth quarter worth about $27,000. Finally, Swiss RE Ltd. purchased a new stake in Robinhood Markets during the fourth quarter worth about $27,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HOOD has been the topic of a number of research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Citizens Jmp restated a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a research note on Thursday, May 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Robinhood Markets in a report on Tuesday, June 9th. Morgan Stanley dropped their price objective on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Finally, Truist Financial reduced their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.
Insider Activity at Robinhood Markets
In related news, Director Baiju Bhatt sold 57,898 shares of Robinhood Markets stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $89.63, for a total value of $5,189,397.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider directly owned 481,396 shares in the company, valued at $40,283,217.28. The trade was a 2.04% decrease in their position. 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 worth $55,306,560 and sold 633,484 shares worth $47,542,923. 14.47% of the stock is owned by corporate insiders.
Robinhood Markets Price Performance
NASDAQ HOOD opened at $108.15 on Friday. The company has a market cap of $97.39 billion, a PE ratio of 52.25, a price-to-earnings-growth ratio of 2.54 and a beta of 2.35. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86. The firm’s 50-day simple moving average is $83.43 and its two-hundred day simple moving average is $91.48.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $0.37 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.81 EPS for the current year.
Key Stories Impacting Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood said its new “AI Trading” feature has already attracted more than 50,000 users in just weeks, with the product helping drive millions of daily interactions and reinforcing the company’s growth narrative. Robinhood Stock Spikes as AI Trading Tops 50,000 Users in Weeks
- Positive Sentiment: Shares have also been supported by record June trading volumes and analyst upgrades/raised price targets after Robinhood announced a 10% workforce reduction, which investors read as a move to improve margins and streamline operations. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
- Positive Sentiment: Momentum traders are also focused on the stock’s technical breakout potential after it outperformed the broader market and moved sharply higher on heavy volume. Stock Of The Day: Will Robinhood Break Out?
- Neutral Sentiment: Commentary on Robinhood’s valuation suggests the stock is expensive, so even with strong growth, expectations are high and any slowdown could make the shares vulnerable. 2 High-Flying Stocks Worth Your Attention and 1 We Question
- Negative Sentiment: Cathie Wood’s ARK has been trimming Robinhood holdings into the rally, which may create some short-term supply pressure and signals that not all big investors are chasing the move. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
About Robinhood Markets
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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