Cookson Peirce & Co. Inc. Reduces Holdings in Robinhood Markets, Inc. $HOOD

Cookson Peirce & Co. Inc. decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,461 shares of the company’s stock after selling 36,125 shares during the period. Robinhood Markets accounts for approximately 1.8% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 11th largest position. Cookson Peirce & Co. Inc.’s holdings in Robinhood Markets were worth $44,387,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. Argus dropped their price target on shares of Robinhood Markets from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Morgan Stanley dropped their price target 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. Truist Financial lowered their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.54.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 181,000 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average price of $83.45 per share, for a total transaction of $15,104,450.00. Following the completion of the acquisition, the director owned 3,674,427 shares in the company, valued at $306,630,933.15. This represents a 5.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 571,602 shares of company stock worth $41,959,746 over the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $82.47 on Friday. The stock has a market capitalization of $74.27 billion, a P/E ratio of 39.84, a PEG ratio of 2.47 and a beta of 2.35. The company has a 50 day moving average price of $78.09 and a 200 day moving average price of $93.03. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Research analysts forecast that Robinhood Markets, Inc. will post 1.85 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: 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 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.