The Manufacturers Life Insurance Company Has $28.79 Million Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• The Manufacturers Life Insurance Company reduced its Robinhood stake by 16% in the first quarter, selling 79,071 shares and retaining 415,416 shares valued at $28.79 million. Institutional investors and hedge funds collectively own 93.27% of HOOD.
• Analysts remain broadly bullish: 21 analysts rate Robinhood a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $120.30, although Goldman Sachs recently lowered its target to $118.
• Robinhood exceeded quarterly expectations with $0.62 in EPS and $1.31 billion in revenue, up 32.5% year over year. However, crypto revenue declined 38%, and valuation concerns and slower new-account growth have pressured the stock.

The Manufacturers Life Insurance Company reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 415,416 shares of the company's stock after selling 79,071 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Robinhood Markets were worth $28,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Robinhood Markets by 103.2% during the third 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 last quarter. Norges Bank acquired a new stake in Robinhood Markets in the 4th quarter valued at $1,202,160,000. Corient Private Wealth LLC lifted its position in Robinhood Markets by 5,221.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company's stock worth $289,519,000 after buying an additional 2,511,743 shares in the last quarter. Jennison Associates LLC lifted its position in Robinhood Markets by 95.7% during the 4th quarter. Jennison Associates LLC now owns 4,412,036 shares of the company's stock worth $499,001,000 after buying an additional 2,157,372 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock worth $1,208,335,000 after buying an additional 2,061,832 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. KeyCorp upped their target price on Robinhood Markets from $100.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. BTIG Research reissued a "buy" rating and issued a $125.00 target price on shares of Robinhood Markets in a research note on Thursday. Argus boosted their target price on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Citizens Jmp reaffirmed a "market outperform" rating and set a $155.00 price target on shares of Robinhood Markets in a research report on Thursday. Finally, The Goldman Sachs Group cut their price target on shares of Robinhood Markets from $137.00 to $118.00 and set a "buy" rating for the company in a research note on Thursday. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.30.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $86.56 on Friday. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The firm has a market capitalization of $77.95 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 1.72 and a beta of 2.33. The stock's 50 day moving average price is $98.02 and its two-hundred day moving average price is $87.63. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.98 earnings per share for the current year.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Q2 earnings beat expectations: Robinhood reported adjusted earnings of $0.62 per share versus the $0.44 consensus estimate, while revenue rose 32.5% year over year to a record $1.31 billion, slightly above expectations. Robinhood Markets Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Business diversification accelerated: Prediction-market revenue reached $156 million, overtaking crypto revenue of $100 million. Management called event markets the company’s fastest-growing business, reducing HOOD’s reliance on cryptocurrency activity. Robinhood Beats Estimates as Prediction Markets Overtake Crypto
• Positive Sentiment: Customer and platform growth remained strong: Robinhood added nearly 1 million funded customers during the quarter—its largest increase in almost five years—and reported record trading volumes, platform assets and Gold subscribers. A reported boost from the anticipated SpaceX IPO also supported account growth. SpaceX IPO Helped Robinhood Add Nearly 1 Million Customers
• Positive Sentiment: Analysts still see substantial upside: Bernstein raised its price target to $160 and cited prediction markets as a potential growth driver, while Citizens JMP maintained an outperform rating with a $155 target. Bernstein Raised Robinhood Price Target
• Neutral Sentiment: CEO Vlad Tenev said the administration is crypto-friendly but argued that clearer, durable U.S. regulation is needed to prevent policy uncertainty from changing every four years. Robinhood CEO Discusses Crypto Regulation
• Negative Sentiment: Crypto weakness and valuation concerns pressured the stock: Crypto revenue fell 38% year over year, while investors questioned the sustainability of a one-time accounting benefit and rising expenses. Analysts also cited a meaningful slowdown in new accounts during July; Barclays cut its target to $105, and Goldman Sachs lowered its target to $118 while retaining a buy rating. HOOD Q2 Earnings Beat but Stock Dips

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.14, for a total value of $1,161,400.00. Following the transaction, the insider directly owned 471,396 shares in the company, valued at $54,747,931.44. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 49,223 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $95.09, for a total transaction of $4,680,615.07. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 631,263 shares worth $66,793,857. Insiders own 13.48% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.