Robinhood Markets, Inc. $HOOD is Index Venture Associates VI Ltd's 2nd Largest Position

Key Points

• Index Venture Associates VI Ltd cut its Robinhood stake by 11.1% in the fourth quarter, but HOOD still remains its 2nd-largest holding and represents about 36.4% of the fund’s portfolio.
• Robinhood continues to draw significant institutional interest, with hedge funds and other investors owning 93.27% of the company’s shares. Several firms increased their positions sharply, including Aberdeen Group and Truist Financial.
• Recent business momentum is being driven by new IPO-related opportunities: Robinhood’s securities arm won approval to underwrite IPOs, and SpaceX’s debut reportedly sent record-breaking traffic to the platform, though users also reported some trading issues during the surge.

Index Venture Associates VI Ltd decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,574,318 shares of the company's stock after selling 1,446,790 shares during the quarter. Robinhood Markets accounts for approximately 36.4% of Index Venture Associates VI Ltd's portfolio, making the stock its 2nd largest holding. Index Venture Associates VI Ltd owned 1.29% of Robinhood Markets worth $1,309,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aberdeen Group plc grew its stake in shares of Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company's stock worth $26,565,000 after purchasing an additional 157,643 shares during the period. NEOS Investment Management LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $11,994,000. Truist Financial Corp grew its stake in Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company's stock valued at $16,455,000 after acquiring an additional 68,458 shares during the period. PNC Financial Services Group Inc. grew its stake in Robinhood Markets by 86.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company's stock valued at $11,406,000 after acquiring an additional 46,688 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Robinhood Markets by 26.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company's stock valued at $44,477,000 after acquiring an additional 76,075 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider owned 81,989 shares in the company, valued at $7,043,674.99. The trade was a 11.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the transaction, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This represents a 2.26% 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 90 days, insiders have bought 680,000 shares of company stock worth $55,306,560 and have sold 571,602 shares worth $41,959,746. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $93.19 on Friday. The stock's fifty day moving average is $80.09 and its two-hundred day moving average is $92.18. The firm has a market capitalization of $83.92 billion, a P/E ratio of 45.02, a PEG ratio of 2.31 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 announced 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 firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current year.

More Robinhood Markets News

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

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX's Blockbuster Market Debut. Here's Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking' traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

Analysts Set New Price Targets

A number of research firms recently issued reports on HOOD. Sanford C. Bernstein reissued an "outperform" rating and issued a $130.00 price target on shares of Robinhood Markets in a research note on Tuesday, April 14th. Morgan Stanley dropped their price target on shares of Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Friday, April 10th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup reissued a "market outperform" rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Finally, Keefe, Bruyette & Woods dropped 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 research note on Wednesday, April 29th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $110.73.

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.

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