Robinhood Markets, Inc. $HOOD Shares Sold by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC cut its Robinhood stake by 25.3% in the first quarter, selling 25,658 shares and leaving it with 75,838 shares valued at about $5.26 million.
• Robinhood reported Q1 EPS of $0.38, missing estimates by a penny, while revenue of $1.07 billion also came in below expectations even though it rose 15.1% year over year.
• The stock has seen notable institutional and analyst attention, with 93.27% ownership by institutions and hedge funds and a consensus analyst rating of “Moderate Buy” with a target price of $112.36.

Fiduciary Alliance LLC reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,838 shares of the company's stock after selling 25,658 shares during the quarter. Fiduciary Alliance LLC's holdings in Robinhood Markets were worth $5,256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HOOD. State Street Corp raised its holdings in Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company's stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares during the period. Norges Bank acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. Corient Private Wealth LLC grew its holdings in Robinhood Markets by 5,221.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company's stock valued at $289,519,000 after purchasing an additional 2,511,743 shares during the period. Jennison Associates LLC increased its position in shares of Robinhood Markets by 95.7% in the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company's stock valued at $499,001,000 after buying an additional 2,157,372 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock valued at $1,208,335,000 after buying an additional 2,061,832 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $97.18 on Thursday. The business's 50 day moving average price is $85.34 and its 200-day moving average price is $90.62. The firm has a market capitalization of $87.52 billion, a PE ratio of 46.95, a P/E/G ratio of 1.90 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 issued 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). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts expect that Robinhood Markets, Inc. will post 1.8 earnings per share for the current year.

Robinhood Markets News Summary

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

• Positive Sentiment: Robinhood said it will use about $290 million of the convertible note proceeds to repurchase shares, while capped calls are intended to reduce dilution if the notes are converted. Article Title
• Positive Sentiment: Truist remained bullish on Robinhood, saying June trading volumes point to a record quarter and transaction revenue may come in ahead of estimates. Article Title
• Neutral Sentiment: Robinhood’s stock remains a heavily watched name, with mixed coverage from recent articles discussing its long-term business model, trading activity, and founder Baiju Bhatt’s origin story. Article Title
• Neutral Sentiment: Analyst notes and market commentary continue to highlight Robinhood’s growth versus volatility, with some bullish price targets but also debate over the durability of its growth drivers. Article Title
• Negative Sentiment: The $2 billion convertible debt raise raised dilution concerns, even with capped calls and buybacks meant to soften the impact. Article Title
• Negative Sentiment: Meta’s reported work on a prediction-market app pressured Robinhood by raising the risk of new competition in a potentially important product category. Article Title

Insider Activity at Robinhood Markets

In other news, CFO Shiv Verma sold 3,984 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $98.84, for a total transaction of $393,778.56. Following the completion of the sale, the chief financial officer owned 59,927 shares of the company's stock, valued at $5,923,184.68. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,898 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $89.63, for a total transaction of $5,189,397.74. 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 have acquired 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Company insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HOOD shares. Mizuho increased their target price on Robinhood Markets from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. KeyCorp reissued an "overweight" rating and issued a $100.00 price target on shares of Robinhood Markets in a report on Monday, June 1st. Loop Capital set a $110.00 price objective on shares of Robinhood Markets in a research report on Wednesday, June 17th. Citizens Jmp reaffirmed a "market outperform" rating and set a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, May 28th. Finally, Citigroup reiterated a "market outperform" rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.36.

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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