Fred Alger Management LLC Sells 1,161,184 Shares of Robinhood Markets, Inc. $HOOD

Fred Alger Management LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 55.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 946,540 shares of the company’s stock after selling 1,161,184 shares during the quarter. Fred Alger Management LLC owned 0.11% of Robinhood Markets worth $107,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aberdeen Group plc increased its stake in shares of Robinhood Markets by 565.1% in the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after purchasing an additional 157,643 shares in the last quarter. NEOS Investment Management LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth $11,994,000. Truist Financial Corp increased its stake in shares of Robinhood Markets by 88.9% in the 4th 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. increased its stake in shares of Robinhood Markets by 86.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after purchasing an additional 46,688 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Robinhood Markets by 26.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after purchasing an additional 76,075 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 1.4%

Shares of Robinhood Markets stock opened at $96.71 on Wednesday. The firm has a market cap of $87.09 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.45 and a beta of 2.35. The business has a 50-day moving average price of $81.23 and a 200-day moving average price of $91.67. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 firm’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 approximately $7,043,674.99. The trade was a 11.67% decrease in their position. 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 quarter, insiders have bought 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets News Roundup

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

• Positive Sentiment: Robinhood announced it will reduce its full-time workforce by roughly 10% (about 290 jobs), a move framed as streamlining operations and flattening management layers, which investors may see as margin-supportive. The subtext of Robinhood’s layoff memo: It’s not us, it’s you
• Positive Sentiment: Media coverage highlighted Robinhood’s record trading traffic and new IPO-related business, reinforcing the idea that the platform is benefiting from stronger engagement and a broader product set. Robinhood Stock In Focus: Record SpaceX Traffic, New IPO Business, World Cup Bets
• Positive Sentiment: Analysts and commentators continue to point to prediction markets as a potential growth engine, with some estimating a large revenue boost tied to World Cup-related betting activity. Thanks to the World Cup, Robinhood’s 2026 prediction markets revenue could skyrocket
• Neutral Sentiment: Brokerage sentiment remains constructive overall, with Robinhood still carrying a consensus “Moderate Buy” rating, which supports the stock but is not a fresh catalyst. Robinhood Markets, Inc. Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Negative Sentiment: Recent insider sales by CFO Shiv Verma and director Baiju Bhatt may create some caution, even though both transactions were made under pre-arranged trading plans. SEC filing for Shiv Verma sale SEC filing for Baiju Bhatt sale

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HOOD shares. Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Morgan Stanley cut their price target on 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 cut their price target 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. JPMorgan Chase & Co. cut their price target on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Finally, Citigroup reiterated a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.73.

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.