Park National Corp OH raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 27.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 167,943 shares of the company’s stock after acquiring an additional 35,814 shares during the period. Park National Corp OH’s holdings in Robinhood Markets were worth $11,638,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in HOOD. CYBER HORNET ETFs LLC grew its position in shares of Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. MV Capital Management Inc. acquired a new position in Robinhood Markets in the fourth quarter valued at $27,000. Swiss RE Ltd. purchased a new position in Robinhood Markets during the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in Robinhood Markets during the fourth quarter worth about $27,000. Finally, Sound Income Strategies LLC boosted its stake in 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. Hedge funds and other institutional investors own 93.27% of the company’s stock.
More Robinhood Markets News
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
Robinhood Markets Price Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released 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 analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.81 earnings per share for the current year.
Insider Activity
In other Robinhood Markets news, Director Meyer Malka purchased 250,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the completion of the acquisition, the director owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This represents a 6.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred 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 transaction, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their ownership of the stock. 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 90 days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Company insiders own 14.47% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. The Goldman Sachs Group lifted their price target on Robinhood Markets from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Jefferies Financial Group cut their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $110.00 target price on shares of Robinhood Markets in a research report on Tuesday, June 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Finally, Mizuho upped their price target on shares of Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $112.36.
View Our Latest Report on Robinhood Markets
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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