Robinhood Markets, Inc. $HOOD Shares Acquired by Park National Corp OH
by Mitch Edgeman · The Markets DailyPark National Corp OH lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 27.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 167,943 shares of the company’s stock after acquiring an additional 35,814 shares during the period. Park National Corp OH’s holdings in Robinhood Markets were worth $11,638,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sound Income Strategies LLC grew its position in Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC raised its stake in shares of Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $27,000. MV Capital Management Inc. acquired a new position in shares of Robinhood Markets during the fourth quarter worth $27,000. Finally, Swiss RE Ltd. acquired a new position in shares of Robinhood Markets during the fourth quarter worth $27,000. 93.27% of the stock is owned by institutional investors and hedge funds.
Robinhood Markets Stock Performance
HOOD stock opened at $108.15 on Friday. The firm has a 50 day simple moving average of $83.43 and a 200-day simple moving average of $91.48. The company has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a PEG ratio of 2.54 and a beta of 2.35. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86.
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 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 analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, research analysts predict that Robinhood Markets, Inc. will post 1.81 EPS for the current year.
Key Stories Impacting Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood said its new “AI Trading” feature has already attracted more than 50,000 users in just weeks, with the product helping drive millions of daily interactions and reinforcing the company’s growth narrative. Robinhood Stock Spikes as AI Trading Tops 50,000 Users in Weeks
- Positive Sentiment: Shares have also been supported by record June trading volumes and analyst upgrades/raised price targets after Robinhood announced a 10% workforce reduction, which investors read as a move to improve margins and streamline operations. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
- Positive Sentiment: Momentum traders are also focused on the stock’s technical breakout potential after it outperformed the broader market and moved sharply higher on heavy volume. Stock Of The Day: Will Robinhood Break Out?
- Neutral Sentiment: Commentary on Robinhood’s valuation suggests the stock is expensive, so even with strong growth, expectations are high and any slowdown could make the shares vulnerable. 2 High-Flying Stocks Worth Your Attention and 1 We Question
- Negative Sentiment: Cathie Wood’s ARK has been trimming Robinhood holdings into the rally, which may create some short-term supply pressure and signals that not all big investors are chasing the move. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
Insider Activity at Robinhood Markets
In other news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $69.83, for a total transaction of $26,186,250.00. Following the transaction, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $26,186,250. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of Robinhood Markets stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the transaction, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 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. 14.47% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on HOOD. Truist Financial lowered their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Barclays cut their price objective on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group decreased their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citizens Jmp reissued a “market outperform” rating and issued a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 28th. Finally, Argus raised their target price on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.
Read Our Latest Stock Analysis on HOOD
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.
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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).