Multicoin Capital Management LLC Invests $47.13 Million in Robinhood Markets, Inc. $HOOD

Multicoin Capital Management LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 680,100 shares of the company's stock, valued at approximately $47,131,000. Robinhood Markets makes up approximately 62.1% of Multicoin Capital Management LLC's holdings, making the stock its largest position. Multicoin Capital Management LLC owned approximately 0.08% of Robinhood Markets as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Weiss Asset Management LP purchased a new stake in Robinhood Markets during the first quarter valued at about $20,165,000. Insight Holdings Group LLC raised its holdings in shares of Robinhood Markets by 0.8% during the first quarter. Insight Holdings Group LLC now owns 42,035 shares of the company's stock valued at $2,913,000 after acquiring an additional 320 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in shares of Robinhood Markets by 53.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 23,241 shares of the company's stock valued at $1,611,000 after acquiring an additional 8,054 shares during the period. Waverly Advisors LLC raised its stake in Robinhood Markets by 54.4% during the 1st quarter. Waverly Advisors LLC now owns 33,254 shares of the company's stock valued at $2,305,000 after purchasing an additional 11,722 shares during the period. Finally, Entropy Technologies LP lifted its holdings in shares of Robinhood Markets by 335.2% in the first quarter. Entropy Technologies LP now owns 69,680 shares of the company's stock valued at $4,829,000 after purchasing an additional 53,668 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. KeyCorp raised their target price on Robinhood Markets from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Loop Capital set a $110.00 price target on shares of Robinhood Markets in a research report on Wednesday, June 17th. Argus boosted their price objective on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Piper Sandler reaffirmed an "overweight" rating on shares of Robinhood Markets in a research note on Thursday, July 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, June 24th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $122.22.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets NASDAQ: HOOD Trading 7.1% Higher on Analyst Upgrade
• Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto's next bull market...
• Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
• Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
• Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again...
• Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
• Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider owned 481,396 shares of the company's stock, valued at $40,283,217.28. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $116.17, for a total value of $43,563,750.00. Following the transaction, the chief executive officer owned 375,000 shares in the company, valued at $43,563,750. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 582,040 shares worth $62,113,242. Corporate insiders own 13.48% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $94.91 on Monday. The stock has a 50-day simple moving average of $96.52 and a 200 day simple moving average of $88.37. The company has a market capitalization of $85.47 billion, a PE ratio of 45.85, a P/E/G ratio of 2.00 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 posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Robinhood Markets 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.

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