Clearbridge Investments LLC Trims Position in Robinhood Markets, Inc. $HOOD

Clearbridge Investments LLC decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,859,124 shares of the company’s stock after selling 173,352 shares during the period. Clearbridge Investments LLC’s holdings in Robinhood Markets were worth $210,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC lifted its position in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. CYBER HORNET ETFs LLC lifted its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC purchased a new position in Robinhood Markets during the fourth quarter worth about $27,000. Godsey & Gibb Inc. purchased a new position in Robinhood Markets during the fourth quarter worth about $28,000. Finally, Cornerstone Planning Group LLC lifted its position in Robinhood Markets by 90.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 268 shares of the company’s stock worth $28,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets News Summary

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

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 67,422 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $26,186,250. This represents a 50.00% decrease in their position. 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 90 days, insiders have sold 571,602 shares of company stock worth $41,959,746. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $82.47 on Monday. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The stock has a market capitalization of $74.27 billion, a P/E ratio of 39.84, a PEG ratio of 2.47 and a beta of 2.35. The business’s fifty day moving average price is $78.09 and its 200 day moving average price is $92.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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). 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 analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.37 EPS. Robinhood Markets’s revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Analyst Ratings Changes

HOOD has been the topic of several recent analyst reports. Argus reduced their target price on Robinhood Markets from $102.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Morgan Stanley cut their price target on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. KeyCorp reaffirmed an “overweight” rating and set a $100.00 price target on shares of Robinhood Markets in a research note on Monday, June 1st. Finally, Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $106.54.

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.