Allstate Corp Buys 28,264 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Allstate Corp more than doubled its Robinhood position in the fourth quarter, buying 28,264 additional shares and bringing its total stake to 55,220 shares worth about $6.25 million.
• Robinhood continues to draw significant institutional interest, with several other funds also increasing holdings and institutional investors owning 93.27% of the stock.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus with an average price target of $107.88, even as some firms cut ratings or lowered targets and insiders sold shares recently.

Allstate Corp grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 104.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,220 shares of the company's stock after buying an additional 28,264 shares during the period. Allstate Corp's holdings in Robinhood Markets were worth $6,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Robinhood Markets by 872.9% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,148 shares of the company's stock valued at $130,000 after acquiring an additional 1,030 shares during the last quarter. Clearstead Trust LLC increased its position in Robinhood Markets by 260.2% during the fourth quarter. Clearstead Trust LLC now owns 461 shares of the company's stock valued at $52,000 after acquiring an additional 333 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Clearstead Advisors LLC increased its position in Robinhood Markets by 13.2% during the fourth quarter. Clearstead Advisors LLC now owns 7,799 shares of the company's stock valued at $882,000 after acquiring an additional 907 shares during the last quarter. Finally, RHL Group LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $1,355,000. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research cut shares of Robinhood Markets from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th. Morgan Stanley dropped their target price on shares of Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Wolfe Research upgraded shares of Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $125.00 target price on the stock in a report on Monday, February 9th. Citizens Jmp reiterated a "market outperform" rating and set a $155.00 target price on shares of Robinhood Markets in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $107.88.

Insider Activity

In related news, Director Baiju Bhatt sold 67,422 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the sale, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 560,765 shares of company stock worth $40,946,840. Insiders own 14.47% of the company's stock.

Robinhood Markets News Summary

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Canadian regulators approved Robinhood’s planned acquisition of WonderFi, clearing an important hurdle for the deal and supporting Robinhood’s push into crypto and “programmable finance” in Canada. WonderFi Announces CIRO Approval for Acquisition by Robinhood
• Positive Sentiment: Coverage around the upcoming SpaceX IPO noted that retail investors could potentially access the listing through platforms like Robinhood, which could boost attention and trading activity on the brokerage platform. Tesla Investor Shares How Retail Investors Can Participate In Blockbuster SpaceX IPO Via Robinhood, Sofi
• Positive Sentiment: Separate reports also said Robinhood received the Canadian regulator’s nod for the WonderFi acquisition, reinforcing the view that the deal is moving ahead as planned. Robinhood gets Canadian regulator nod for WonderFi acquisition
• Neutral Sentiment: Industry research on North America’s online trading platform market highlighted favorable trends such as zero-commission trading, cloud migration, and rising crypto activity, which supports the broader backdrop for Robinhood but does not directly change fundamentals. North America Online Trading Platform Market Forecast and Competitive Analysis Report 2025-2031 Featuring Charles Schwab, Interactive Brokers, Robinhood, E*TRADE, and Fidelity Investments
• Negative Sentiment: Some recent coverage focused on Robinhood’s Q1 earnings shortfall, reminding investors that the stock can remain sensitive to execution and valuation concerns after missing estimates last quarter. Robinhood (HOOD) Stock Dips Following Q1 Earnings Shortfall: What’s Next for Investors?

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $74.09 on Wednesday. Robinhood Markets, Inc. has a one year low of $62.92 and a one year high of $153.86. The firm has a fifty day moving average of $76.07 and a 200 day moving average of $95.19. The firm has a market cap of $66.72 billion, a PE ratio of 35.79, a PEG ratio of 2.16 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.95 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.