Venturi Wealth Management LLC Increases Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Venturi Wealth Management LLC more than doubled its Robinhood stake in the first quarter, increasing holdings by 108.8% to 23,246 shares valued at about $1.61 million.
• Robinhood’s stock was up 5.6% and opened at $98.69, with the company carrying a market cap of $88.87 billion and trading well above its 52-week low but below its high.
• The company’s latest quarter showed mixed results: earnings per share of $0.38 missed estimates by a penny and revenue of $1.07 billion fell short of expectations, even though revenue still rose 15.1% year over year.

Venturi Wealth Management LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 108.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,246 shares of the company's stock after acquiring an additional 12,112 shares during the period. Venturi Wealth Management LLC's holdings in Robinhood Markets were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company's stock valued at $4,617,004,000 after purchasing an additional 16,375,734 shares during the period. Norges Bank acquired a new position in Robinhood Markets during the fourth quarter worth approximately $1,202,160,000. Corient Private Wealth LLC lifted its stake 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 buying an additional 2,511,743 shares during the last quarter. Jennison Associates LLC lifted its stake in 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 during the last quarter. Finally, Morgan Stanley boosted its holdings 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 acquiring an additional 2,061,832 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 5.6%

Shares of Robinhood Markets stock opened at $98.69 on Friday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The company's 50-day simple moving average is $85.85 and its 200-day simple moving average is $90.41. The firm has a market cap of $88.87 billion, a price-to-earnings ratio of 47.68, a price-to-earnings-growth ratio of 2.32 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results 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 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 period in the prior year, the company earned $0.37 earnings per share. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.81 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 10,837 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider owned 81,989 shares of the company's stock, valued at $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total value 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 ninety days, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on HOOD. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $110.00 price target on shares of Robinhood Markets in a research note on Tuesday, June 9th. Argus raised their price objective on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday. Finally, Loop Capital set a $110.00 target price on shares of Robinhood Markets in a report on Wednesday, June 17th. Nineteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $113.68.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: BTIG initiated coverage on Robinhood with a Buy rating and a $125 price target, saying the company has a long runway for asset growth, customer engagement, and product expansion. The new bullish call is likely helping sentiment. Article Title
• Positive Sentiment: Robinhood closed its $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it more financial flexibility. Management also said capped calls and a share repurchase mean the deal should limit dilution unless the stock rises much further, which may reassure investors. Article Title
• Positive Sentiment: Robinhood is also promoting growth through customer perks, including World Cup ticket giveaways to boost its Gold subscriber base, suggesting continued efforts to deepen engagement and subscription revenue. Article Title
• Neutral Sentiment: Robinhood is attracting investor attention as a high-yield ETF idea and continues to appear in market roundups, but these items are more about trading interest than a direct business catalyst. Article Title
• Neutral Sentiment: A comparison piece on SCHW vs. HOOD frames Robinhood as a value debate rather than providing a new company-specific catalyst. Article Title
• Negative Sentiment: Robinhood previously fell after reports that Meta is developing a competing prediction-markets app, raising concerns about future competition in one of Robinhood’s newer growth areas. Article Title

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

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.