Robinhood Markets, Inc. $HOOD Shares Purchased by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management increased its Robinhood stake by 8.7% in the fourth quarter, ending with 312,554 shares valued at about $35.35 million. Institutional investors still own a dominant 93.27% of the company.
• Robinhood shares were down 6.6% and last traded at $82.47, even as the company reported quarterly revenue growth of 15.1% year over year. However, its latest earnings missed expectations slightly on both EPS and revenue.
• Wall Street sentiment remains mostly positive, with 19 buy ratings and an average target price of $106.54. Recent headlines also highlight insider buying, new growth initiatives, and Goldman Sachs raising its price target to $105.

Westfield Capital Management Co. LP raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,554 shares of the company's stock after acquiring an additional 24,939 shares during the quarter. Westfield Capital Management Co. LP's holdings in Robinhood Markets were worth $35,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sound Income Strategies LLC grew its stake in Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock worth $26,000 after purchasing an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC lifted its holdings in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock worth $26,000 after buying an additional 190 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $27,000. Godsey & Gibb Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $28,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Robinhood Markets by 90.1% in 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. Institutional investors own 93.27% of the company's stock.

More Robinhood Markets News

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

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Robinhood Markets Stock Down 6.6%

HOOD stock opened at $82.47 on Friday. The stock has a market cap of $74.27 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.64 and a beta of 2.35. The firm's 50-day simple moving average is $78.09 and its 200 day simple moving average is $93.03. 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 posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts forecast that Robinhood Markets, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HOOD. Cantor Fitzgerald restated an "overweight" rating and set a $110.00 price objective on shares of Robinhood Markets in a research note on Wednesday, April 29th. Argus dropped their target price on shares of Robinhood Markets from $102.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Truist Financial decreased their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a research report on Friday, March 27th. Finally, KeyCorp reissued an "overweight" rating and issued a $100.00 target price on shares of Robinhood Markets in a report on Monday, June 1st. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.54.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the completion of the transaction, the insider owned 81,989 shares of the company's stock, valued at approximately $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the firm's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $69.83, for a total value of $26,186,250.00. Following the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at $26,186,250. This trade represents a 50.00% decrease in their ownership of the stock. 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 three months, insiders sold 571,602 shares of company stock worth $41,959,746. 14.47% of the stock is owned by company insiders.

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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