Robinhood Markets, Inc. $HOOD Stock Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,764,850 shares of the company’s stock after selling 88,467 shares during the period. Bank of New York Mellon Corp’s holdings in Robinhood Markets were worth $425,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in HOOD. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after purchasing an additional 18,824,923 shares in the last quarter. State Street Corp boosted its holdings in shares of Robinhood Markets by 103.2% in the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after buying an additional 16,375,734 shares during the period. Norges Bank acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $1,202,160,000. Jennison Associates LLC boosted its holdings in shares of Robinhood Markets by 95.7% in the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock worth $499,001,000 after buying an additional 2,157,372 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Robinhood Markets by 48.5% in the third quarter. Northern Trust Corp now owns 6,157,337 shares of the company’s stock worth $881,608,000 after buying an additional 2,011,820 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a report on Monday, February 9th. JPMorgan Chase & Co. decreased their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Barclays decreased their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Truist Financial decreased 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. 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 stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $106.54.

Key Robinhood Markets News

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood Markets (HOOD) to $105 from $95 and kept a Buy rating, reinforcing a more bullish valuation view. Benzinga article
• Positive Sentiment: Robinhood expanded its wealth-management push through TradePMR with an advisor network, client referral tools, AI capabilities, lending perks, and broader investment access for RIAs, which could help grow higher-value revenue streams. Yahoo Finance article
• Positive Sentiment: Director Meyer Malka made another large insider purchase, buying 181,000 shares for about $15.1 million, a sign of confidence from a key insider.

Robinhood Markets Stock Performance

HOOD stock opened at $88.33 on Friday. The stock has a market cap of $79.54 billion, a P/E ratio of 42.67, a P/E/G ratio of 2.48 and a beta of 2.35. The firm has a 50 day simple moving average of $77.90 and a 200 day simple moving average of $93.10. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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 company had revenue of $1.07 billion for 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%.The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Insider Activity

In related news, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 249,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $80.39 per share, for a total transaction of $20,017,110.00. Following the transaction, the director owned 3,493,427 shares of the company’s stock, valued at approximately $280,836,596.53. This represents a 7.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 550,765 shares of company stock valued at $40,191,940. 14.47% of the stock is currently owned by company insiders.

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.