Robinhood Markets, Inc. $HOOD Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 405,398 shares of the company’s stock after selling 30,618 shares during the period. TD Asset Management Inc’s holdings in Robinhood Markets were worth $45,851,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HOOD. Empowered Funds LLC raised its position in Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Robinhood Markets during the second quarter worth $5,105,000. Federated Hermes Inc. raised its position in Robinhood Markets by 106.2% during the second 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 period. NewEdge Advisors LLC raised its position in 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 acquiring an additional 14,356 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth $1,316,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Robinhood Markets Stock Down 6.6%

Shares of HOOD opened at $82.47 on Friday. The firm’s fifty day moving average is $78.09 and its two-hundred day moving average is $93.03. The stock has a market cap of $74.27 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. Jefferies Financial Group lowered their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Needham & Company LLC lowered their target price on shares of Robinhood Markets from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, May 28th. Mizuho lifted their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Wall Street Zen cut shares of Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.54.

Insider Activity

In other news, Director Meyer Malka purchased 249,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $80.39 per share, with a total value of $20,017,110.00. Following the transaction, the director owned 3,493,427 shares in the company, valued at $280,836,596.53. The trade was a 7.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 571,602 shares of company stock worth $41,959,746. Insiders own 14.47% of the company’s stock.

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.