Robinhood Markets, Inc. $HOOD Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Robinhood stake by 9.0% in the first quarter, selling 61,944 shares and ending with 624,133 shares valued at about $43.25 million.
• Several analysts remain constructive on HOOD, with a consensus rating of Moderate Buy and an average price target of $112.36, though recent target cuts show some caution.
• Robinhood reported quarterly results with EPS of $0.38 and revenue of $1.07 billion, missing estimates on both, even as revenue still rose 15.1% year over year.

Assenagon Asset Management S.A. trimmed its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 624,133 shares of the company's stock after selling 61,944 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Robinhood Markets worth $43,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HOOD. Truist Financial Corp boosted its holdings in shares of Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company's stock worth $16,455,000 after purchasing an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company's stock valued at $11,406,000 after purchasing an additional 46,688 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Robinhood Markets by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company's stock worth $44,477,000 after buying an additional 76,075 shares during the period. Capital Wealth Planning LLC lifted its position in Robinhood Markets by 238.5% during the third quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company's stock worth $6,935,000 after buying an additional 34,129 shares during the period. Finally, Virtus Wealth Solutions LLC acquired a new stake in Robinhood Markets in the 3rd quarter worth about $11,074,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on HOOD. Wall Street Zen upgraded Robinhood Markets from a "strong sell" rating to a "sell" rating in a report on Saturday, June 13th. Barclays dropped their price target on shares of Robinhood Markets from $89.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Truist Financial lowered their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 13th. The Goldman Sachs Group upped their price objective on Robinhood Markets from $95.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $155.00 target price on shares of Robinhood Markets in a report on Thursday, May 28th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Robinhood closed a $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it additional capital to fund growth initiatives. The company also used part of the proceeds to repurchase stock and buy capped calls intended to reduce dilution risk, which may help support long-term shareholder value. Robinhood Closes Offering of $2.2 Billion of 0.00% Convertible Senior Notes Due 2029
• Positive Sentiment: Robinhood is promoting its Gold subscription with perks such as World Cup tickets, a sign it is actively trying to grow recurring revenue and deepen customer engagement. Robinhood dangles World Cup tickets to boost Gold subscriber base
• Neutral Sentiment: Short-interest data showed no meaningful update, with reported short interest still at 0 shares, offering little insight into current bearish positioning.
• Negative Sentiment: Reports that Meta is building a rival prediction-markets app could pressure Robinhood’s competitive position and limit enthusiasm for its event-based trading expansion. Why Robinhood (HOOD) Stock Is Down Today

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $93.47 on Friday. The firm has a 50-day moving average of $85.63 and a two-hundred day moving average of $90.35. The stock has a market cap of $84.17 billion, a P/E ratio of 45.15, a PEG ratio of 1.79 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.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during 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%.The company's revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the sale, the insider directly owned 432,849 shares in the company, valued at $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. Company insiders own 14.47% of the company's stock.

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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