Entropy Technologies LP lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 335.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,680 shares of the company’s stock after buying an additional 53,668 shares during the period. Entropy Technologies LP’s holdings in Robinhood Markets were worth $4,829,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp boosted its holdings in shares of Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after acquiring an additional 46,688 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock valued at $81,755,000 after purchasing an additional 478,919 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Robinhood Markets by 100.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 60,000 shares of the company’s stock valued at $6,786,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its position in Robinhood Markets by 107.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after purchasing an additional 141,440 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.
Insider Activity
In other news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction on 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total value of $1,000,320.00. Following the completion of the transaction, the director directly owned 63,674 shares in the company, valued at approximately $7,640,880. This represents a 11.58% 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. Over the last 90 days, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by insiders.
Robinhood Markets Trading Down 6.6%
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.86 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Sanford C. Bernstein increased their price target on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of Robinhood Markets in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods cut their price objective on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Robinhood Markets in a report on Thursday, July 2nd. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.22.
Read Our Latest Analysis on Robinhood Markets
Trending Headlines about Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
- Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
- Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
- Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
- Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
- Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
- Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market
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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