Robinhood Markets, Inc. $HOOD Shares Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group increased its Robinhood stake by 31.5% in the first quarter, buying an additional 31,770 shares and lifting its position to 132,619 shares worth about $9.19 million.
• Robinhood shares were under pressure, with the stock opening at $94.91 and trading below recent highs, despite the company’s large institutional ownership level of 93.27%.
• Recent results and analyst sentiment were mixed but mostly positive: Robinhood missed Q1 EPS and revenue estimates, yet several brokerages raised price targets, with analysts maintaining a consensus “Moderate Buy” rating and an average target price of $122.22.

PNC Financial Services Group Inc. grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 31.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,619 shares of the company's stock after buying an additional 31,770 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Robinhood Markets were worth $9,190,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CogentBlue Wealth Advisors LLC grew its stake in Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company's stock valued at $282,000 after acquiring an additional 98 shares during the period. SOA Wealth Advisors LLC. raised its position in Robinhood Markets by 11.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company's stock worth $109,000 after acquiring an additional 100 shares during the period. Barnes Dennig Private Wealth Management LLC raised its position in Robinhood Markets by 10.2% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 1,210 shares of the company's stock worth $137,000 after acquiring an additional 112 shares during the period. Bogart Wealth LLC lifted its holdings in Robinhood Markets by 8.5% during the fourth quarter. Bogart Wealth LLC now owns 1,463 shares of the company's stock valued at $165,000 after purchasing an additional 114 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Robinhood Markets by 2.8% during the fourth quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company's stock valued at $487,000 after purchasing an additional 117 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Down 6.6%

Shares of NASDAQ HOOD opened at $94.91 on Friday. The firm has a 50-day simple moving average of $96.52 and a 200-day simple moving average of $88.61. The stock has a market capitalization of $85.47 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 2.00 and a beta of 2.33. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The business's quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Key Robinhood Markets News

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

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the transaction, the insider directly owned 481,396 shares in the company, valued at $40,283,217.28. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the acquisition, the director owned 3,924,427 shares of the company's stock, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOOD. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $97.00 to $123.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. KeyCorp upped their price target on shares of Robinhood Markets from $100.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citizens Jmp reaffirmed a "market outperform" rating and issued a $155.00 price target on shares of Robinhood Markets in a research note on Thursday, May 28th. Mizuho lifted their price objective on Robinhood Markets from $115.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Finally, Morgan Stanley boosted their price objective on Robinhood Markets from $95.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Friday, July 10th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $122.22.

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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