PNC Financial Services Group Inc. increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 31.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 132,619 shares of the company’s stock after acquiring an additional 31,770 shares during the period. PNC Financial Services Group Inc.’s holdings in Robinhood Markets were worth $9,190,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. CYBER HORNET ETFs LLC lifted its stake in shares of Robinhood Markets by 527.8% in the 4th 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 last quarter. MV Capital Management Inc. purchased a new position in shares of Robinhood Markets during the 4th quarter worth $27,000. Swiss RE Ltd. acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $27,000. Finally, Sound Income Strategies LLC raised its holdings in Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.
Key Headlines Impacting 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
Robinhood Markets Price Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) 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 analysts’ expectations 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 for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.
Insider Activity
In related news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the sale, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at $43,563,750. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total transaction of $1,000,320.00. Following the sale, the director owned 63,674 shares in the company, valued at approximately $7,640,880. This trade represents a 11.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. Corporate insiders own 13.48% of the company’s stock.
Analyst Ratings Changes
A number of research firms have commented on HOOD. Cantor Fitzgerald reaffirmed 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 lifted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Jefferies Financial Group reduced their price target on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $97.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Barclays increased their price objective on shares of Robinhood Markets from $82.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twenty-one 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 stock currently has an average rating of “Moderate Buy” and an average target price of $122.22.
Check Out Our Latest Stock 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.
Featured Articles
- Five stocks we like better than Robinhood Markets
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
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).
Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.
