Whetstone Capital Advisors LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,755 shares of the company’s stock after buying an additional 4,419 shares during the period. Robinhood Markets makes up 1.4% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Whetstone Capital Advisors LLC’s holdings in Robinhood Markets were worth $5,491,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Robinhood Markets during the second quarter valued at about $5,105,000. Federated Hermes Inc. raised its holdings in shares of Robinhood Markets by 106.2% during the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after purchasing an additional 32,933 shares during the period. NewEdge Advisors LLC boosted its position in shares of Robinhood Markets by 19.1% during the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock worth $8,396,000 after purchasing an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $1,316,000. Institutional investors and hedge funds own 93.27% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on HOOD shares. China Renaissance initiated coverage on Robinhood Markets in a research report on Tuesday, July 7th. They issued a “buy” rating for the company. Wall Street Zen raised Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Citizens Jmp restated a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, July 30th. Barclays decreased their price objective on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, Argus increased their target price on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.42.
Robinhood Markets News Summary
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Prediction-markets expansion: Robinhood agreed to use OG.com, a federally regulated exchange and former Crypto.com business, to provide infrastructure and clearing for event contracts. It will also add Crypto.com contracts and take minority stakes in Crypto.com and the prediction-markets platform. The arrangement could expand Robinhood’s fastest-growing business ahead of the NFL season and diversify revenue beyond traditional trading. Reuters prediction-markets partnership article
- Positive Sentiment: Analyst price-target increases: Jefferies raised its target to $140 from $127 while maintaining a Buy rating, and Cantor Fitzgerald lifted its target to $150 with an Overweight rating. The upgrades reflect optimism about prediction markets, crypto-related products and Robinhood’s expanding business mix. Jefferies Robinhood price-target article
- Positive Sentiment: New investment-banking opportunity: Robinhood is participating as an underwriter for Oura’s planned IPO. The move could increase retail allocations, strengthen relationships with issuers and create a new fee-based revenue stream. Robinhood IPO underwriting article
- Neutral Sentiment: Tokenization remains a strategic growth area: CEO Vlad Tenev said tokenized securities can provide global access to U.S. assets and argued that public companies cannot control financial products built around publicly traded shares. The strategy could broaden Robinhood’s reach, but the dispute with AMC highlights potential issuer-relations and regulatory friction. CNBC tokenization article
- Negative Sentiment: Valuation and sentiment risks: After a sharp August rally, investors may be taking profits while questioning whether prediction markets and crypto products can justify Robinhood’s elevated valuation. Commentary also noted that Robinhood customers have been relatively quiet or selling, which could limit near-term trading momentum. Barchart Robinhood customer-selling article
Robinhood Markets Stock Performance
Shares of Robinhood Markets stock opened at $115.28 on Thursday. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $103.61 and a 200-day moving average price of $89.25. The company has a market cap of $103.65 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 2.38 and a beta of 2.34.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post 2.12 earnings per share for the current fiscal year.
Insider Buying and Selling at Robinhood Markets
In other Robinhood Markets news, insider Steven M. Quirk sold 24,416 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the transaction, the insider owned 77,839 shares in the company, valued at $9,366,366.87. This represents a 23.88% decrease in their position. The sale was disclosed in a document filed 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, CFO Shiv Verma sold 3,982 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $95.07, for a total value of $378,568.74. Following the sale, the chief financial officer directly owned 51,963 shares of the company’s stock, valued at approximately $4,940,122.41. This represents a 7.12% 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. Insiders sold a total of 568,385 shares of company stock valued at $63,880,685 in the last ninety days. 13.48% of the stock is owned by corporate insiders.
Robinhood Markets Company Profile
Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.
The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.
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