Summitry LLC Purchases New Holdings in Robinhood Markets, Inc. $HOOD

Summitry LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,237 shares of the company’s stock, valued at approximately $432,000.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after purchasing an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Robinhood Markets by 100.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 60,000 shares of the company’s stock valued at $6,786,000 after buying an additional 30,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in shares of Robinhood Markets by 107.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after buying an additional 141,440 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 purchased at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the transaction, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 631,263 shares worth $66,793,857. Company insiders own 13.48% of the company’s stock.

Robinhood Markets Trading Down 0.0%

Shares of HOOD stock opened at $86.56 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The company’s 50-day moving average price is $98.02 and its 200-day moving average price is $87.63. The stock has a market cap of $77.95 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 1.72 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $0.42 earnings per share. Robinhood Markets’s revenue was up 32.5% compared to the same quarter last year. As a group, equities analysts predict that Robinhood Markets, Inc. will post 2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HOOD. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Mizuho increased their price objective on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. The Goldman Sachs Group decreased their target price on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC lowered their target price on Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group dropped their price target on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.30.

More Robinhood Markets News

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

• Positive Sentiment: Q2 earnings beat expectations: Robinhood reported adjusted earnings of $0.62 per share versus the $0.44 consensus estimate, while revenue rose 32.5% year over year to a record $1.31 billion, slightly above expectations. Robinhood Markets Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Business diversification accelerated: Prediction-market revenue reached $156 million, overtaking crypto revenue of $100 million. Management called event markets the company’s fastest-growing business, reducing HOOD’s reliance on cryptocurrency activity. Robinhood Beats Estimates as Prediction Markets Overtake Crypto
• Positive Sentiment: Customer and platform growth remained strong: Robinhood added nearly 1 million funded customers during the quarter—its largest increase in almost five years—and reported record trading volumes, platform assets and Gold subscribers. A reported boost from the anticipated SpaceX IPO also supported account growth. SpaceX IPO Helped Robinhood Add Nearly 1 Million Customers
• Positive Sentiment: Analysts still see substantial upside: Bernstein raised its price target to $160 and cited prediction markets as a potential growth driver, while Citizens JMP maintained an outperform rating with a $155 target. Bernstein Raised Robinhood Price Target
• Neutral Sentiment: CEO Vlad Tenev said the administration is crypto-friendly but argued that clearer, durable U.S. regulation is needed to prevent policy uncertainty from changing every four years. Robinhood CEO Discusses Crypto Regulation
• Negative Sentiment: Crypto weakness and valuation concerns pressured the stock: Crypto revenue fell 38% year over year, while investors questioned the sustainability of a one-time accounting benefit and rising expenses. Analysts also cited a meaningful slowdown in new accounts during July; Barclays cut its target to $105, and Goldman Sachs lowered its target to $118 while retaining a buy rating. HOOD Q2 Earnings Beat but Stock Dips

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.