Main Street Research LLC Sells 529,109 Shares of Robinhood Markets, Inc. $HOOD

Main Street Research LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 99.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,290 shares of the company’s stock after selling 529,109 shares during the period. Main Street Research LLC’s holdings in Robinhood Markets were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HOOD. CYBER HORNET ETFs LLC raised its stake in shares of Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $27,000. Swiss RE Ltd. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter worth $27,000. Finally, Sound Income Strategies LLC grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the sale, the insider owned 62,612 shares of the company’s stock, valued at approximately $7,510,935.52. The trade was a 23.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 659,112 shares valued at $68,741,158. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Trading Up 1.4%

HOOD stock opened at $115.11 on Friday. The stock’s fifty day simple moving average is $90.20 and its two-hundred day simple moving average is $89.33. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The stock has a market cap of $103.66 billion, a P/E ratio of 55.61, a P/E/G ratio of 2.54 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: Robinhood’s newly launched blockchain is generating strong interest, with reports of a memecoin frenzy, record DEX volume, and growing retail activity on Robinhood Chain, which supports the bullish growth narrative. Article: Trader turns $800 into $1 million
• Positive Sentiment: Barclays raised its price target on HOOD from $82 to $122 and kept an overweight rating, reinforcing optimism that the stock still has room to run.
• Positive Sentiment: Coverage around Robinhood’s crypto and tokenization push, including Robinhood Chain, stock tokens, DeFi lending, perpetual futures, and AI trading, continues to support expectations for future revenue growth. Article: HOOD Bets on DeFi, Tokenization & AI Trading in Global Expansion Push
• Neutral Sentiment: Several articles highlighted rising attention on Robinhood’s memecoin ecosystem and broad media interest in the company, which adds visibility but is not a direct fundamental catalyst. Article: Robinhood’s Memecoin Boom Shows Crypto’s Retail Market Is No Joke
• Neutral Sentiment: Recent insider sales by Robinhood executives and directors may slightly weigh on sentiment, though the transactions were pre-arranged under Rule 10b5-1 plans and do not necessarily signal a change in business outlook.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HOOD shares. Keefe, Bruyette & Woods dropped their price objective on 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. KeyCorp reiterated an “overweight” rating and issued a $100.00 target price on shares of Robinhood Markets in a report on Monday, June 1st. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.74.

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.