Clear Street Group Inc. Trims Stock Position in Robinhood Markets, Inc. $HOOD

Clear Street Group Inc. cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,494,658 shares of the company’s stock after selling 189,937 shares during the quarter. Robinhood Markets comprises about 0.6% of Clear Street Group Inc.’s investment portfolio, making the stock its 12th biggest holding. Clear Street Group Inc.’s holdings in Robinhood Markets were worth $169,046,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after buying an additional 1,334,443 shares in the last quarter. State Street Corp grew its stake in shares of Robinhood Markets by 2.7% in the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after buying an additional 875,297 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after buying an additional 356,902 shares in the last quarter. Morgan Stanley grew its stake 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 buying an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new stake in Robinhood Markets during the 4th quarter valued at approximately $1,202,160,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Jefferies Financial Group lowered their price objective on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price objective on shares of Robinhood Markets in a research note on Tuesday. Finally, Mizuho lifted their target price on Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.73.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 10,837 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the sale, the insider owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. This trade represents a 11.67% decrease in their position. 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, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the completion of the sale, the insider directly owned 432,849 shares in the company, valued at approximately $33,281,759.61. This trade represents a 2.26% decrease in their position. 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 quarter, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 571,602 shares worth $41,959,746. Insiders own 14.47% of the company’s stock.

Robinhood Markets Trading Up 1.0%

Shares of HOOD opened at $93.19 on Friday. The firm has a market cap of $83.92 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 2.33 and a beta of 2.35. The stock has a 50 day moving average of $80.09 and a 200-day moving average of $92.18. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

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

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

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.