Corient Private Wealth LLC raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 94.3% in the 4th quarter, Holdings Channel reports. The firm owned 93,449 shares of the company’s stock after buying an additional 45,344 shares during the period. Corient Private Wealth LLC’s holdings in Robinhood Markets were worth $10,588,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of HOOD. State Street Corp boosted its position in shares of Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares in the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $1,202,160,000. Jennison Associates LLC increased its position in shares of Robinhood Markets by 95.7% in the 4th quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock valued at $499,001,000 after buying an additional 2,157,372 shares in the last quarter. Morgan Stanley raised its stake in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after buying an additional 2,061,832 shares during the period. Finally, Northern Trust Corp raised its stake in Robinhood Markets by 48.5% during the 3rd quarter. Northern Trust Corp now owns 6,157,337 shares of the company’s stock worth $881,608,000 after buying an additional 2,011,820 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Robinhood Markets Price Performance
HOOD opened at $97.18 on Thursday. The business’s 50-day moving average price is $85.34 and its two-hundred day moving average price is $90.62. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The company has a market capitalization of $87.52 billion, a price-to-earnings ratio of 46.95, a P/E/G ratio of 1.90 and a beta of 2.35.
Insiders Place Their Bets
In other news, insider Steven M. Quirk sold 10,837 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the transaction, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This trade represents a 11.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired 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 directly 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 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. 14.47% of the stock is owned by corporate insiders.
Robinhood Markets News Summary
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood said it will use about $290 million of the convertible note proceeds to repurchase shares, while capped calls are intended to reduce dilution if the notes are converted. Article Title
- Positive Sentiment: Truist remained bullish on Robinhood, saying June trading volumes point to a record quarter and transaction revenue may come in ahead of estimates. Article Title
- Neutral Sentiment: Robinhood’s stock remains a heavily watched name, with mixed coverage from recent articles discussing its long-term business model, trading activity, and founder Baiju Bhatt’s origin story. Article Title
- Neutral Sentiment: Analyst notes and market commentary continue to highlight Robinhood’s growth versus volatility, with some bullish price targets but also debate over the durability of its growth drivers. Article Title
- Negative Sentiment: The $2 billion convertible debt raise raised dilution concerns, even with capped calls and buybacks meant to soften the impact. Article Title
- Negative Sentiment: Meta’s reported work on a prediction-market app pressured Robinhood by raising the risk of new competition in a potentially important product category. Article Title
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Needham & Company LLC boosted their target price on Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Barclays dropped their price target on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Mizuho lifted their price objective on Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Truist Financial decreased their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. lowered their target price on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.36.
Read Our Latest Research Report on HOOD
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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Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report).
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