Kestra Private Wealth Services LLC Has $3.11 Million Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Kestra Private Wealth Services LLC increased its Robinhood stake by 55.8% in the first quarter, holding 44,941 shares worth about $3.11 million after adding 16,087 shares.
• Robinhood continues to draw heavy institutional interest, with institutions owning 93.27% of the company, while several large investors including State Street and Norges Bank also boosted or initiated positions.
• Recent news flow around HOOD has been mostly positive, including BTIG’s Buy rating and $125 target and Robinhood’s $2.2 billion convertible note offering, though competition concerns remain after reports that Meta is developing a rival prediction-markets app.

Kestra Private Wealth Services LLC increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 55.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 44,941 shares of the company's stock after purchasing an additional 16,087 shares during the period. Kestra Private Wealth Services LLC's holdings in Robinhood Markets were worth $3,114,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. State Street Corp boosted its stake in shares of Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company's stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the period. Norges Bank bought a new stake in Robinhood Markets in the 4th quarter valued at $1,202,160,000. Corient Private Wealth LLC lifted its holdings in Robinhood Markets by 5,221.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company's stock valued at $289,519,000 after purchasing an additional 2,511,743 shares during the last quarter. Jennison Associates LLC lifted its holdings in Robinhood Markets by 95.7% during the 4th quarter. Jennison Associates LLC now owns 4,412,036 shares of the company's stock valued at $499,001,000 after purchasing an additional 2,157,372 shares during the last quarter. Finally, Morgan Stanley boosted its position in Robinhood Markets by 23.9% during the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock worth $1,208,335,000 after purchasing an additional 2,061,832 shares during the period. Institutional investors own 93.27% of the company's stock.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: BTIG initiated coverage on Robinhood with a Buy rating and a $125 price target, saying the company has a long runway for asset growth, customer engagement, and product expansion. The new bullish call is likely helping sentiment. Article Title
• Positive Sentiment: Robinhood closed its $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it more financial flexibility. Management also said capped calls and a share repurchase mean the deal should limit dilution unless the stock rises much further, which may reassure investors. Article Title
• Positive Sentiment: Robinhood is also promoting growth through customer perks, including World Cup ticket giveaways to boost its Gold subscriber base, suggesting continued efforts to deepen engagement and subscription revenue. Article Title
• Neutral Sentiment: Robinhood is attracting investor attention as a high-yield ETF idea and continues to appear in market roundups, but these items are more about trading interest than a direct business catalyst. Article Title
• Neutral Sentiment: A comparison piece on SCHW vs. HOOD frames Robinhood as a value debate rather than providing a new company-specific catalyst. Article Title
• Negative Sentiment: Robinhood previously fell after reports that Meta is developing a competing prediction-markets app, raising concerns about future competition in one of Robinhood’s newer growth areas. Article Title

Insiders Place Their Bets

In other news, CFO Shiv Verma sold 3,984 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $98.84, for a total transaction of $393,778.56. Following the transaction, the chief financial officer directly owned 59,927 shares of the company's stock, valued at approximately $5,923,184.68. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares of the company's stock, valued at approximately $40,283,217.28. The trade was a 2.04% 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 ninety days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

HOOD opened at $98.69 on Friday. The stock has a fifty day moving average of $85.85 and a 200-day moving average of $90.41. The company has a market capitalization of $88.87 billion, a P/E ratio of 47.68, a P/E/G ratio of 2.32 and a beta of 2.35. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HOOD shares. Morgan Stanley decreased their price objective 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. BTIG Research began coverage on shares of Robinhood Markets in a research note on Friday. They set a "buy" rating and a $125.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Robinhood Markets from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 13th. Nineteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $113.68.

Robinhood Markets Company 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.