Circle Wealth Management LLC Has $3.36 Million Stock Position in Robinhood Markets, Inc. $HOOD

Circle Wealth Management LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,712 shares of the company’s stock after selling 10,737 shares during the period. Circle Wealth Management LLC’s holdings in Robinhood Markets were worth $3,360,000 at the end of the most recent quarter.

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

More Robinhood Markets News

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

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. New Street Research set a $122.00 target price on shares of Robinhood Markets in a research note on Thursday, March 5th. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley reduced their price objective 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. 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, Argus reduced their price objective 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. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.73.

Robinhood Markets Stock Up 1.0%

Robinhood Markets stock opened at $93.19 on Friday. The stock has a market cap of $83.92 billion, a P/E ratio of 45.02, a P/E/G ratio of 2.31 and a beta of 2.35. 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 $80.09 and its two-hundred day moving average price is $92.18.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $69.83, for a total transaction of $26,186,250.00. Following the transaction, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at approximately $26,186,250. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $768,900.00. Following the transaction, the insider directly owned 432,849 shares in the company, valued at $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 571,602 shares valued at $41,959,746. Company insiders own 14.47% of the company’s stock.

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.