Robinhood Markets, Inc. $HOOD Stake Lifted by Verde Capital Management

Verde Capital Management boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 697.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 38,755 shares of the company’s stock after purchasing an additional 33,896 shares during the period. Verde Capital Management’s holdings in Robinhood Markets were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in HOOD. Evolution Wealth Advisors LLC grew its position in shares of Robinhood Markets by 5.2% during the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after acquiring an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC lifted its position in Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock valued at $282,000 after purchasing an additional 98 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Robinhood Markets by 11.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after purchasing an additional 100 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its stake in Robinhood Markets by 1.8% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 6,107 shares of the company’s stock valued at $874,000 after purchasing an additional 107 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC boosted its stake in Robinhood Markets by 10.2% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 1,210 shares of the company’s stock valued at $137,000 after purchasing an additional 112 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 2.3%

HOOD stock opened at $105.71 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86. The company has a market capitalization of $95.19 billion, a price-to-earnings ratio of 51.07, a price-to-earnings-growth ratio of 2.54 and a beta of 2.35. The firm’s 50-day moving average is $84.14 and its two-hundred day moving average is $91.12.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.81 earnings per share for the current year.

More Robinhood Markets News

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

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the transaction, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,984 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $98.84, for a total value of $393,778.56. Following the completion of the sale, the chief financial officer directly owned 59,927 shares in the company, valued at $5,923,184.68. This represents a 6.23% 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 90 days, insiders have purchased 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.

Analysts Set New Price Targets

Several brokerages have commented on HOOD. Keefe, Bruyette & Woods dropped 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. Morgan Stanley reduced their price objective on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Argus increased their price objective on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.