Robinhood Markets, Inc. $HOOD Shares Sold by Clear Street Group Inc.

Key Points

• Clear Street Group cut its Robinhood stake by 11.3% in the fourth quarter, but it still held 1.49 million shares worth about $169 million and made HOOD its 12th-largest position.
• Robinhood recently reported Q1 revenue of $1.07 billion and EPS of $0.38, missing analyst estimates on both metrics, even though revenue still rose 15.1% year over year.
• Sentiment around the stock remains mixed-to-bullish: Robinhood’s securities arm won approval to underwrite IPOs, Needham raised its price target to $97, and analysts currently have a Moderate Buy consensus with an average target of $110.73.

Clear Street Group Inc. lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,494,658 shares of the company's stock after selling 189,937 shares during the period. Robinhood Markets makes up approximately 0.6% of Clear Street Group Inc.'s portfolio, making the stock its 12th biggest holding. Clear Street Group Inc. owned 0.17% of Robinhood Markets worth $169,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Entropy Technologies LP grew its holdings in Robinhood Markets by 32.3% during the fourth quarter. Entropy Technologies LP now owns 16,012 shares of the company's stock worth $1,811,000 after acquiring an additional 3,908 shares during the period. Aigen Investment Management LP acquired a new position in Robinhood Markets during the fourth quarter worth $1,799,000. Atlas Capital Advisors Inc. acquired a new position in Robinhood Markets during the fourth quarter worth $1,723,000. Aptus Capital Advisors LLC grew its holdings in Robinhood Markets by 80.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 8,265 shares of the company's stock worth $935,000 after acquiring an additional 3,678 shares during the period. Finally, Alamea Verwaltungs GmbH grew its holdings in Robinhood Markets by 53.4% during the fourth quarter. Alamea Verwaltungs GmbH now owns 2,719 shares of the company's stock worth $308,000 after acquiring an additional 947 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $93.19 on Friday. The firm has a market capitalization of $83.92 billion, a price-to-earnings ratio of 45.02, a price-to-earnings-growth ratio of 2.33 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. The stock's fifty day moving average is $80.09 and its two-hundred day moving average is $92.18.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total value of $836,800.00. Following the sale, the insider directly owned 481,396 shares in the company, valued at $40,283,217.28. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 5,436 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $77.36, for a total value of $420,528.96. Following the completion of the sale, the chief financial officer owned 47,311 shares in the company, valued at $3,659,978.96. This represents a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 571,602 shares valued at $41,959,746. Insiders own 14.47% of the company's stock.

Trending Headlines about Robinhood Markets

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on HOOD. JPMorgan Chase & Co. lowered their target price on Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Keefe, Bruyette & Woods lowered their target price on Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Barclays lowered their target price on Robinhood Markets from $89.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Morgan Stanley lowered their target price on Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Finally, Zacks Research raised Robinhood Markets from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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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