Robinhood Markets, Inc. $HOOD Shares Bought by BIT Capital GmbH

BIT Capital GmbH grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 834,578 shares of the company’s stock after purchasing an additional 127,087 shares during the quarter. Robinhood Markets makes up about 3.5% of BIT Capital GmbH’s holdings, making the stock its 10th largest position. BIT Capital GmbH’s holdings in Robinhood Markets were worth $94,391,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOOD. Evolution Wealth Advisors LLC lifted its position in shares of Robinhood Markets by 5.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after buying an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC lifted its position in shares of Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after buying an additional 98 shares during the last quarter. Vision Financial Markets LLC lifted its position in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of Robinhood Markets by 2.5% in the 3rd quarter. Kovack Advisors Inc. now owns 4,121 shares of the company’s stock worth $590,000 after buying an additional 100 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its position in Robinhood Markets by 11.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after purchasing an additional 100 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting 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

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 67,422 shares of the company’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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider owned 81,989 shares in the company, valued at approximately $7,043,674.99. This trade represents a 11.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 571,602 shares of company stock worth $41,959,746 over the last quarter. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $82.47 on Friday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The company’s fifty day moving average price is $78.09 and its two-hundred day moving average price is $93.03. The firm has a market capitalization of $74.27 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.64 and a beta of 2.35.

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). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts predict that Robinhood Markets, Inc. will post 1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on HOOD. Barclays dropped their price target on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Friday, March 27th. Piper Sandler decreased their price target on shares of Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Morgan Stanley reduced their target price on shares of 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. Finally, Mizuho boosted their price objective 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. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.54.

About Robinhood Markets

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.