Harvest Portfolios Group Inc. Boosts Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Harvest Portfolios Group dramatically increased its Robinhood stake by 1,701.4% in the fourth quarter, ending with 364,288 shares worth about $41.2 million.
• Institutional ownership remains a major factor in HOOD, with 93.27% of shares held by hedge funds and other institutional investors. Several other funds also added to or initiated positions in the stock during the quarter.
• Robinhood’s latest quarter showed mixed fundamentals: revenue rose 15.1% year over year to $1.07 billion, but earnings and revenue both missed analyst estimates, while the stock has also faced analyst price-target cuts and insider selling.

Harvest Portfolios Group Inc. lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 1,701.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364,288 shares of the company's stock after buying an additional 344,065 shares during the period. Harvest Portfolios Group Inc.'s holdings in Robinhood Markets were worth $41,201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Robinhood Markets in the 4th quarter valued at $582,000. PNC Financial Services Group Inc. grew its position in Robinhood Markets by 86.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company's stock worth $11,406,000 after purchasing an additional 46,688 shares during the last quarter. Larson Financial Group LLC grew its position in Robinhood Markets by 7.9% during the 4th quarter. Larson Financial Group LLC now owns 4,920 shares of the company's stock worth $556,000 after purchasing an additional 362 shares during the last quarter. Handelsbanken Fonder AB grew its position in Robinhood Markets by 25.1% during the 4th quarter. Handelsbanken Fonder AB now owns 324,190 shares of the company's stock worth $36,666,000 after purchasing an additional 65,019 shares during the last quarter. Finally, Csenge Advisory Group grew its position in Robinhood Markets by 539.2% during the 4th quarter. Csenge Advisory Group now owns 9,396 shares of the company's stock worth $1,063,000 after purchasing an additional 7,926 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on HOOD shares. The Goldman Sachs Group lowered their price objective on shares of Robinhood Markets from $102.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. JPMorgan Chase & Co. lowered their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Mizuho raised their price objective on shares of Robinhood Markets from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Truist Financial lowered their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Finally, Piper Sandler lowered their price objective on shares of Robinhood Markets from $155.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 11th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.88.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood’s management is presenting at J.P. Morgan’s Global Technology, Media and Communications Conference, which can help reinforce the company’s growth story and give investors updates on trading activity, platform engagement, and product expansion. Robinhood Markets, Inc. (HOOD) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Positive Sentiment: A recent article noted that Robinhood continues to attract investor attention after strong April operating data and a positive analyst review, suggesting core business trends remain supportive even after crypto volumes cooled. Why Robinhood (HOOD) Stock Is Up Today
• Neutral Sentiment: Robinhood’s CFO, Shiv Verma, sold shares under a pre-arranged 10b5-1 plan. While routine, insider sales can still add to short-term caution around the stock. Robinhood Markets, Inc. insider transaction details
• Negative Sentiment: Investors are also reacting to concerns that Robinhood could lose from Congress’s prediction-market bill frenzy, which raises uncertainty around a business area linked to event-based trading activity. Why Robinhood (HOOD) stock may stand to lose from Congress's prediction market bill frenzy
• Negative Sentiment: Another bearish note says Robinhood’s customers are staying away, reflecting skepticism that weaker engagement and trading activity can support near-term growth. Robinhood's Customers Are Staying Away, You Should Too

Robinhood Markets Stock Down 3.9%

Shares of NASDAQ:HOOD opened at $74.15 on Wednesday. The company has a market cap of $66.77 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.50 and a beta of 2.29. The firm's 50-day simple moving average is $76.33 and its 200-day simple moving average is $97.57. Robinhood Markets, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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 firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.88 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of Robinhood Markets stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $83.92, for a total value of $489,673.20. Following the sale, the chief technology officer owned 12,171 shares of the company's stock, valued at $1,021,390.32. The trade was a 32.41% decrease in their ownership of the stock. The sale 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 8,540 shares of Robinhood Markets stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $84.93, for a total transaction of $725,302.20. Following the completion of the sale, the insider directly owned 53,183 shares in the company, valued at approximately $4,516,832.19. The trade was a 13.84% 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 quarter, insiders have sold 493,343 shares of company stock valued at $35,864,569. Corporate insiders own 19.95% of the company's stock.

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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