Kestra Advisory Services LLC Sells 24,230 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Kestra Advisory Services LLC cut its Robinhood Markets stake by 30.5% in the first quarter, selling 24,230 shares and leaving it with 55,163 shares valued at about $3.82 million.
• Robinhood stock was trading down 5.7% to $99.96, though it remains well above its 50-day and 200-day moving averages and has a market cap of about $90.01 billion.
• Wall Street sentiment is still broadly positive: Goldman Sachs raised its price target to $137 and maintained a Buy rating, while the consensus analyst view remains a Moderate Buy with an average target of $118.70.

Kestra Advisory Services LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,163 shares of the company's stock after selling 24,230 shares during the period. Kestra Advisory Services LLC's holdings in Robinhood Markets were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC grew its stake in Robinhood Markets by 527.8% in the 4th 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. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $27,000. MV Capital Management Inc. purchased a new position in Robinhood Markets during the 4th quarter valued at about $27,000. Finally, Swiss RE Ltd. purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $27,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Down 5.7%

HOOD opened at $99.96 on Friday. The business's 50-day moving average price is $94.26 and its 200-day moving average price is $89.09. The company 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 12 month low of $63.51 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the company posted $0.37 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total value of $2,324,464.92. Following the completion of the sale, the insider owned 62,612 shares in the company, valued at approximately $7,510,935.52. This represents a 23.63% 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. Over the last three months, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HOOD has been the subject of several analyst reports. China Renaissance began coverage on shares of Robinhood Markets in a report on Tuesday, July 7th. They issued a "buy" rating for the company. JPMorgan Chase & Co. decreased their price target 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. Loop Capital set a $110.00 price objective on Robinhood Markets in a research report on Wednesday, June 17th. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Zacks Research upgraded Robinhood Markets from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.70.

Robinhood Markets News Summary

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?

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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