Allspring Global Investments Holdings LLC Has $63.86 Million Stock Position in Robinhood Markets, Inc. $HOOD

Allspring Global Investments Holdings LLC lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.4% during the first quarter, Holdings Channel reports. The firm owned 910,878 shares of the company’s stock after selling 128,628 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Robinhood Markets were worth $63,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HOOD. Sound Income Strategies LLC boosted its holdings in Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth about $27,000. MV Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter worth about $27,000. Finally, Swiss RE Ltd. bought a new stake in shares of Robinhood Markets during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total value of $836,800.00. Following the completion of the transaction, the insider directly owned 481,396 shares of the company’s stock, valued at $40,283,217.28. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the transaction, the director owned 3,924,427 shares in the company, valued at $316,858,235.98. This represents a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Company insiders own 13.48% of the company’s stock.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HOOD shares. Needham & Company LLC increased their price objective on Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Truist Financial decreased their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a research note on Tuesday, June 9th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $118.70.

Robinhood Markets Trading Down 5.7%

NASDAQ:HOOD opened at $99.96 on Friday. The stock has a market capitalization of $90.01 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 2.24 and a beta of 2.33. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The firm has a 50 day moving average of $94.26 and a 200-day moving average of $89.09.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.

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.