Kestra Advisory Services LLC Sells 24,230 Shares of Robinhood Markets, Inc. $HOOD

Kestra Advisory Services LLC decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 30.5% during the first quarter, Holdings Channel reports. The fund owned 55,163 shares of the company’s stock after selling 24,230 shares during the period. Kestra Advisory Services LLC’s holdings in Robinhood Markets were worth $3,823,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after purchasing an additional 16,375,734 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets in the fourth quarter worth $1,202,160,000. Corient Private Wealth LLC raised its holdings in Robinhood Markets by 5,221.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after purchasing an additional 2,511,743 shares in the last quarter. Jennison Associates LLC lifted its position in Robinhood Markets by 95.7% during the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock valued at $499,001,000 after buying an additional 2,157,372 shares during the period. Finally, Morgan Stanley lifted its position in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares in the company, valued at $43,563,750. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total value of $1,000,320.00. Following the completion of the transaction, the director directly owned 63,674 shares in the company, valued at approximately $7,640,880. This represents a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $55,306,560 and have sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 5.7%

Shares of NASDAQ:HOOD opened at $99.96 on Friday. The stock has a market capitalization of $90.01 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 2.24 and a beta of 2.33. The firm’s 50 day moving average price is $94.26 and its 200-day moving average price is $89.09. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86.

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). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. 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 firm posted $0.37 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Argus boosted their price target on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Truist Financial lowered their price objective 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. Loop Capital set a $110.00 target price on Robinhood Markets in a report on Wednesday, June 17th. Morgan Stanley increased their target price on Robinhood Markets from $95.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.70.

Robinhood Markets News Roundup

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?

Robinhood Markets Company 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.