8,672 Shares in Robinhood Markets, Inc. $HOOD Purchased by Trust Asset Management LLC

Trust Asset Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 8,672 shares of the company’s stock, valued at approximately $601,000.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka acquired 250,000 shares of Robinhood Markets stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares in the company, valued at $316,858,235.98. The trade was a 6.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shiv Verma sold 3,984 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $98.84, for a total transaction of $393,778.56. Following the completion of the transaction, the chief financial officer directly owned 59,927 shares in the company, valued at approximately $5,923,184.68. The trade was a 6.23% 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 acquired 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 3.8%

Shares of HOOD stock opened at $93.47 on Friday. The stock has a 50-day moving average price of $85.63 and a 200 day moving average price of $90.35. The firm has a market cap of $84.17 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.79 and a beta of 2.35. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HOOD shares. Argus lifted their price target on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. KeyCorp reiterated an “overweight” rating and set a $100.00 price target on shares of Robinhood Markets in a research report on Monday, June 1st. Morgan Stanley decreased 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 report on Friday, April 10th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Finally, Needham & Company LLC boosted their target price on shares of Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.36.

Key Robinhood Markets News

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

• Positive Sentiment: Robinhood closed a $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it additional capital to fund growth initiatives. The company also used part of the proceeds to repurchase stock and buy capped calls intended to reduce dilution risk, which may help support long-term shareholder value. Robinhood Closes Offering of $2.2 Billion of 0.00% Convertible Senior Notes Due 2029
• Positive Sentiment: Robinhood is promoting its Gold subscription with perks such as World Cup tickets, a sign it is actively trying to grow recurring revenue and deepen customer engagement. Robinhood dangles World Cup tickets to boost Gold subscriber base
• Neutral Sentiment: Short-interest data showed no meaningful update, with reported short interest still at 0 shares, offering little insight into current bearish positioning.
• Negative Sentiment: Reports that Meta is building a rival prediction-markets app could pressure Robinhood’s competitive position and limit enthusiasm for its event-based trading expansion. Why Robinhood (HOOD) Stock Is Down Today

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.