Arkfeld Wealth Strategies L.L.C. Acquires New Position in Robinhood Markets, Inc. $HOOD

Arkfeld Wealth Strategies L.L.C. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,944 shares of the company’s stock, valued at approximately $1,105,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in shares of Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after purchasing an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Robinhood Markets during the 2nd quarter worth $5,105,000. Federated Hermes Inc. increased its holdings in Robinhood Markets by 106.2% during the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock worth $5,988,000 after purchasing an additional 32,933 shares during the period. NewEdge Advisors LLC raised its position in Robinhood Markets by 19.1% during the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after purchasing an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in shares of Robinhood Markets in the 2nd quarter worth $1,316,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $105.71 on Tuesday. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The stock’s 50-day moving average is $84.14 and its 200 day moving average is $91.12. The company has a market cap of $95.19 billion, a P/E ratio of 51.07, a PEG ratio of 2.54 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.81 EPS for the current year.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood said it plans to use about $300 million of the proceeds to buy back stock, and it also intends to use capped calls to help offset dilution from the convertible notes. Robinhood Announces Private Offering of $2.0 Billion of Convertible Senior Notes Due 2029
• Positive Sentiment: Management framed the financing as an opportunistic capital raise that gives Robinhood more flexibility to invest in growth initiatives and strengthen its balance sheet. Robinhood to Offer 2 Billion of Convertible Senior Notes
• Neutral Sentiment: Robinhood’s broader push into tokenized assets and crypto-related products keeps the company in the middle of a fast-growing but still developing market, which could support long-term growth but does not appear to be the main driver of today’s move. Wall Street Wants To Tokenize Everything—But It First Needs The CLARITY Act
• Negative Sentiment: Shares are falling as investors worry the new convertible debt could dilute existing holders and signal that Robinhood is choosing financing over a cleaner equity-friendly capital plan. Robinhood Markets proposes 2B convertible debt offering
• Negative Sentiment: Multiple reports say the stock moved lower after the announcement, suggesting the market is focusing on the dilution risk and the size of the financing rather than the buyback offset. Robinhood’s multibillion-dollar move sends stock lower

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 57,898 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $89.63, for a total transaction of $5,189,397.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the transaction, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. The trade was a 11.67% decrease in their ownership of the stock. 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. In the last 90 days, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. Insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. Citizens Jmp reissued a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a research report on Thursday, May 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a report on Tuesday, June 9th. Loop Capital set a $110.00 target price on shares of Robinhood Markets in a report on Wednesday, June 17th. Mizuho raised their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.36.

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.