Carnegie Investment Counsel grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 6,385.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,225 shares of the company’s stock after purchasing an additional 121,325 shares during the quarter. Carnegie Investment Counsel’s holdings in Robinhood Markets were worth $8,539,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in HOOD. 180 Wealth Advisors LLC lifted its position in Robinhood Markets by 12.4% during the 1st quarter. 180 Wealth Advisors LLC now owns 3,110 shares of the company’s stock worth $216,000 after buying an additional 343 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Robinhood Markets by 0.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 184,102 shares of the company’s stock worth $12,758,000 after purchasing an additional 1,191 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Robinhood Markets by 382.5% during the first quarter. Fifth Third Bancorp now owns 141,072 shares of the company’s stock valued at $9,776,000 after purchasing an additional 111,835 shares during the last quarter. Candriam S.C.A. grew its stake in shares of Robinhood Markets by 3.4% during the first quarter. Candriam S.C.A. now owns 68,225 shares of the company’s stock valued at $4,728,000 after purchasing an additional 2,229 shares during the last quarter. Finally, Carmel Capital Partners LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at approximately $1,156,000. 93.27% of the stock is owned by institutional investors.
Insider Transactions at Robinhood Markets
In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares in the company, valued at $43,563,750. This represents a 50.00% decrease in their ownership of the stock. 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 purchased 250,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the transaction, the director owned 3,924,427 shares of the company’s stock, valued at $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 659,112 shares valued at $68,741,158. Insiders own 14.47% of the company’s stock.
Robinhood Markets Stock Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings data 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). The firm 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%.The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. Research analysts anticipate that Robinhood Markets, Inc. will post 1.88 EPS for the current fiscal year.
Key Robinhood Markets News
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Morgan Stanley raised its price target on Robinhood Markets (HOOD) to $124 from $95, which signals improved upside expectations even though the firm kept an equal-weight rating.
- Positive Sentiment: Barclays also turned more bullish earlier in the week, lifting its target to $122 and maintaining an overweight rating, reinforcing analyst confidence in HOOD’s growth outlook.
- Positive Sentiment: Robinhood Chain is drawing major attention after quickly climbing into the top tier of blockchains by 24-hour DEX volume, with articles highlighting surging activity, meme-coin trading, and broader crypto engagement that could boost Robinhood’s platform relevance. Article: HOOD Stock Drops Despite Price Target Hike — Robinhood Chain Beats ARB, HYPE, NEAR In DEX Trading
- Positive Sentiment: CEO Vlad Tenev’s comments about expanding stock ownership and broadening access to investing keep the long-term growth story in focus, especially as Robinhood adds new products and markets. Article: Robinhood CEO Vlad Tenev Says ‘Only 62% of Americans’ Exposed to Stocks: ‘I’d Like to Get That to 100’
- Neutral Sentiment: Several reports note Robinhood remains heavily followed by investors and analysts, but these are more confirmation of elevated attention than new fundamental information.
- Negative Sentiment: Recent insider selling, including sales by a Robinhood director and ongoing ARK Invest trimming of HOOD shares, may be weighing on sentiment even though some trades were pre-planned under Rule 10b5-1.
Wall Street Analyst Weigh In
HOOD has been the topic of several research reports. Jefferies Financial Group reduced their price objective on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research note on Tuesday, April 14th. Loop Capital set a $110.00 price objective on Robinhood Markets in a research report on Wednesday, June 17th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.
Check Out Our Latest Stock 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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