8,760 Shares in Robinhood Markets, Inc. $HOOD Bought by Floyd Financial Group LLC

Floyd Financial Group LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,760 shares of the company’s stock, valued at approximately $991,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in shares of Robinhood Markets by 46.7% during the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after buying an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Robinhood Markets during the 2nd quarter worth approximately $5,105,000. Federated Hermes Inc. boosted its stake in Robinhood Markets by 106.2% during the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock worth $5,988,000 after acquiring an additional 32,933 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Robinhood Markets by 19.1% during the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock worth $8,396,000 after purchasing an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $1,316,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 10,837 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the completion of the transaction, the insider owned 81,989 shares in the company, valued at $7,043,674.99. This trade represents a 11.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total value of $836,800.00. Following the completion of the sale, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their position. 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 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered 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. New Street Research set a $122.00 price target on shares of Robinhood Markets in a report on Thursday, March 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Friday, March 27th. Truist Financial dropped their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, May 28th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.

Robinhood Markets Stock Up 2.8%

Shares of HOOD opened at $108.15 on Friday. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The stock has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a P/E/G ratio of 2.63 and a beta of 2.35. The company has a 50 day moving average of $82.71 and a 200-day moving average of $91.37.

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

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood announced plans to cut about 10% of its workforce, which investors are viewing as a move to improve efficiency, speed product launches, and support margins. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
• Positive Sentiment: Multiple Wall Street firms turned constructive after the layoff announcement, including Argus raising its price target on HOOD to $110 and keeping a buy rating, reinforcing the view that the stock still has room to run. Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
• Positive Sentiment: Reports that Robinhood posted record June trading volumes have boosted optimism that revenue momentum is still strong despite the restructuring. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Coverage on Thursday noted HOOD was outperforming the broader market and may be breaking out above prior resistance, adding technical momentum to the rally. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold more Robinhood shares during the run-up, which is a notable flow headline but not necessarily a fundamental warning sign. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Neutral Sentiment: Robinhood remains highly tied to crypto and prediction-market activity, so continued upside may depend on those growth drivers and broader market conditions. Is the SpaceX IPO Enough to Rescue Robinhood Stock?

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.