Cookson Peirce & Co. Inc. Cuts Position in Robinhood Markets, Inc. $HOOD

Cookson Peirce & Co. Inc. trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 392,461 shares of the company’s stock after selling 36,125 shares during the period. Robinhood Markets comprises about 1.8% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 11th biggest position. Cookson Peirce & Co. Inc.’s holdings in Robinhood Markets were worth $44,387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HOOD. Caisse Des Depots ET Consignations purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth $3,984,000. Aberdeen Group plc lifted its position in shares of Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after purchasing an additional 157,643 shares during the last quarter. NEOS Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth $11,994,000. Truist Financial Corp lifted its position in shares of Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth $14,989,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Wednesday, February 11th. Zacks Research lowered shares of Robinhood Markets from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 8th. KeyCorp reiterated an “overweight” rating and set a $100.00 price target on shares of Robinhood Markets in a research note on Monday, June 1st. 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 research note on Thursday, April 23rd. Finally, Morgan Stanley lowered their price objective on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $106.54.

Key Headlines Impacting Robinhood Markets

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

Robinhood Markets Stock Down 6.6%

Shares of NASDAQ:HOOD opened at $82.47 on Friday. The company has a market cap of $74.27 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 2.47 and a beta of 2.35. The firm’s 50-day simple moving average is $78.09 and its 200-day simple moving average is $93.03. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

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 the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion during 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 firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Shiv Verma sold 5,436 shares of Robinhood Markets stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $77.36, for a total value of $420,528.96. Following the sale, the chief financial officer owned 47,311 shares of the company’s stock, valued at $3,659,978.96. The trade was a 10.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the sale, the insider directly owned 81,989 shares in the company, valued at approximately $7,043,674.99. The trade was a 11.67% 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. Over the last quarter, insiders have sold 571,602 shares of company stock valued at $41,959,746. Corporate insiders own 14.47% of the company’s stock.

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.