Robinhood Markets, Inc. $HOOD Position Reduced by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Robinhood stake by 2.3% in the fourth quarter, but still owned 3.76 million shares valued at about $425.8 million at quarter-end.
• Robinhood has received several positive developments, including Goldman Sachs raising its price target to $105 and the company expanding its wealth-management push through TradePMR with new tools for advisors and RIAs.
• The company’s latest earnings showed mixed results: revenue rose 15.1% year over year to $1.07 billion, but earnings per share of $0.38 narrowly missed expectations, while insiders continued to sell shares and one director made a large purchase.

Bank of New York Mellon Corp trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,764,850 shares of the company's stock after selling 88,467 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.42% of Robinhood Markets worth $425,804,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HOOD. Sound Income Strategies LLC boosted its stake in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock valued at $26,000 after acquiring an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Elyxium Wealth LLC bought a new position in Robinhood Markets during the 4th quarter valued at $27,000. Godsey & Gibb Inc. bought a new position in Robinhood Markets during the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC boosted its stake in Robinhood Markets by 90.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 268 shares of the company's stock valued at $28,000 after acquiring an additional 127 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood Markets (HOOD) to $105 from $95 and kept a Buy rating, reinforcing a more bullish valuation view. Benzinga article
• Positive Sentiment: Robinhood expanded its wealth-management push through TradePMR with an advisor network, client referral tools, AI capabilities, lending perks, and broader investment access for RIAs, which could help grow higher-value revenue streams. Yahoo Finance article
• Positive Sentiment: Director Meyer Malka made another large insider purchase, buying 181,000 shares for about $15.1 million, a sign of confidence from a key insider. MarketBeat insider trade report

Analyst Ratings Changes

A number of research firms have commented on HOOD. KeyCorp reiterated an "overweight" rating and set a $100.00 price objective on shares of Robinhood Markets in a research note on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Robinhood Markets from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Zacks Research cut shares of Robinhood Markets from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th. Finally, Barclays dropped their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.54.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $88.33 on Friday. The stock has a market capitalization of $79.54 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 2.48 and a beta of 2.35. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The company's fifty day moving average is $77.90 and its two-hundred day moving average is $93.10.

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 analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.37 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, 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 transaction of $768,900.00. Following the sale, the insider owned 432,849 shares of the company's stock, valued at $33,281,759.61. The trade was a 2.26% decrease in their position. The sale 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, Director Baiju Bhatt sold 67,422 shares of the business's stock in a transaction 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 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 sold 550,765 shares of company stock worth $40,191,940. 14.47% of the stock is owned by company insiders.

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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