Bank of New York Mellon Corp Has $258.72 Million Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Bank of New York Mellon slightly reduced its Robinhood stake by 0.8% in the first quarter but still held 3.73 million shares valued at about $258.7 million.
• Analysts remain broadly constructive on Robinhood, with several firms raising price targets and the stock carrying a Moderate Buy consensus and an average target of $118.70.
• Recent insider activity has been mixed but leaned toward selling, including CEO Vladimir Tenev selling 375,000 shares; the stock also fell 5.7% to $99.96 amid broader pressure on brokerage names.

Bank of New York Mellon Corp decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,733,284 shares of the company's stock after selling 31,566 shares during the period. Bank of New York Mellon Corp owned 0.41% of Robinhood Markets worth $258,717,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC grew its stake in shares of Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after buying an additional 190 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Robinhood Markets in the fourth quarter valued at about $27,000. Swiss RE Ltd. acquired a new position in Robinhood Markets during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC grew its stake in shares of Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock worth $26,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

More Robinhood Markets News

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Wall Street Analyst Weigh In

HOOD has been the subject of several analyst reports. Zacks Research raised Robinhood Markets from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $95.00 to $124.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. BTIG Research reissued a "buy" rating and set a $125.00 target price on shares of Robinhood Markets in a research report on Thursday, July 2nd. Sanford C. Bernstein restated an "outperform" rating and issued a $130.00 target price on shares of Robinhood Markets in a research note on Tuesday, April 14th. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $118.70.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 375,000 shares in the company, valued at approximately $43,563,750. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal 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, insider Steven M. Quirk sold 19,377 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider directly owned 62,612 shares in the company, valued at approximately $7,510,935.52. The trade was a 23.63% decrease in their position. 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 ninety days, insiders have bought 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Company insiders own 13.48% of the company's stock.

Robinhood Markets Trading Down 5.7%

Robinhood Markets stock opened at $99.96 on Friday. The firm has a market cap of $90.01 billion, a P/E ratio of 48.29, a P/E/G ratio of 2.24 and a beta of 2.33. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The firm has a 50-day moving average of $94.26 and a 200-day moving average of $89.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 company had revenue of $1.07 billion during 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%.Robinhood Markets's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. Research analysts forecast that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

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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