Alpine Global Management LLC Decreases Stock Position in Robinhood Markets, Inc. $HOOD

Alpine Global Management LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 40.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,720 shares of the company’s stock after selling 8,101 shares during the quarter. Alpine Global Management LLC’s holdings in Robinhood Markets were worth $1,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in Robinhood Markets by 88.9% in the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 86.2% during the 4th 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. Wealth Enhancement Advisory Services LLC grew its position in shares of Robinhood Markets by 26.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after buying an additional 76,075 shares during the period. Capital Wealth Planning LLC increased its stake in shares of Robinhood Markets by 238.5% in the 3rd quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company’s stock valued at $6,935,000 after acquiring an additional 34,129 shares in the last quarter. Finally, Virtus Wealth Solutions LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $11,074,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent analyst reports. Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Truist Financial reduced their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Mizuho upped their price objective on Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. The Goldman Sachs Group raised their target price on Robinhood Markets from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lowered their target price on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Robinhood announced plans to cut about 10% of its workforce, which investors are viewing as a move to improve efficiency, speed product launches, and support margins. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
• Positive Sentiment: Multiple Wall Street firms turned constructive after the layoff announcement, including Argus raising its price target on HOOD to $110 and keeping a buy rating, reinforcing the view that the stock still has room to run. Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
• Positive Sentiment: Reports that Robinhood posted record June trading volumes have boosted optimism that revenue momentum is still strong despite the restructuring. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Coverage on Thursday noted HOOD was outperforming the broader market and may be breaking out above prior resistance, adding technical momentum to the rally. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold more Robinhood shares during the run-up, which is a notable flow headline but not necessarily a fundamental warning sign. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Neutral Sentiment: Robinhood remains highly tied to crypto and prediction-market activity, so continued upside may depend on those growth drivers and broader market conditions. Is the SpaceX IPO Enough to Rescue Robinhood Stock?

Robinhood Markets Trading Up 2.8%

HOOD stock opened at $108.15 on Friday. The firm has a 50 day moving average of $82.71 and a 200-day moving average of $91.37. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The firm has a market capitalization of $97.39 billion, a P/E ratio of 52.25, a price-to-earnings-growth ratio of 2.63 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced 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). 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 the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.83 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the transaction, the insider owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. 14.47% of the stock is currently owned by corporate 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.