Harvest Fund Management Co. Ltd Has $337,000 Stock Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Harvest Fund Management sharply cut its Robinhood position in the fourth quarter, selling 16,476 shares and reducing its stake by 84.7% to 2,983 shares worth about $337,000.
• Robinhood reported mixed quarterly results, with earnings of $0.38 per share missing estimates by a penny and revenue of $1.07 billion falling short of expectations, though revenue still rose 15.1% year over year.
• Analysts remain constructive on the stock overall: the consensus rating is “Moderate Buy,” with an average target price of $106.54, while recent insider activity included a large share purchase by Director Meyer Malka and a sale by an insider under a trading plan.

Harvest Fund Management Co. Ltd decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,983 shares of the company's stock after selling 16,476 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Robinhood Markets were worth $337,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. VMS Asset Management Limited acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $13,265,000. J.W. Cole Advisors Inc. raised its stake in shares of Robinhood Markets by 1.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 24,121 shares of the company's stock valued at $2,728,000 after buying an additional 422 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Robinhood Markets by 8.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 312,554 shares of the company's stock valued at $35,350,000 after buying an additional 24,939 shares in the last quarter. Vise Technologies Inc. raised its stake in shares of Robinhood Markets by 50.7% in the 4th quarter. Vise Technologies Inc. now owns 14,565 shares of the company's stock valued at $1,647,000 after buying an additional 4,899 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Robinhood Markets by 14.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 169,405 shares of the company's stock worth $19,160,000 after purchasing an additional 21,976 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Down 6.6%

Shares of Robinhood Markets stock opened at $82.47 on Friday. The stock has a market capitalization of $74.27 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The company has a 50-day simple moving average of $78.09 and a 200 day simple moving average of $93.03. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HOOD shares. Citigroup reiterated a "market outperform" rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Loop Capital set a $94.00 target price on shares of Robinhood Markets in a research report on Wednesday, May 27th. Piper Sandler dropped their target price on shares of Robinhood Markets from $155.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, February 11th. Mizuho increased their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Finally, Wolfe Research upgraded shares of Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $125.00 target price for the company in a research report on Monday, February 9th. Nineteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $106.54.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total value of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 181,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $83.45 per share, with a total value of $15,104,450.00. Following the transaction, the director directly owned 3,674,427 shares in the company, valued at approximately $306,630,933.15. This represents a 5.18% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 571,602 shares of company stock worth $41,959,746. Corporate 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: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

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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