Robinhood Markets, Inc. $HOOD Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 48.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,104,137 shares of the company’s stock after purchasing an additional 1,668,400 shares during the quarter. Robinhood Markets accounts for 0.6% of Renaissance Technologies LLC’s portfolio, making the stock its 15th largest position. Renaissance Technologies LLC owned about 0.57% of Robinhood Markets worth $353,717,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after buying an additional 1,334,443 shares during the period. State Street Corp lifted its position in Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after buying an additional 875,297 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after buying an additional 356,902 shares during the period. Morgan Stanley boosted its stake in shares of 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 buying an additional 2,061,832 shares during the period. Finally, Norges Bank purchased a new position in shares of Robinhood Markets during the 4th quarter valued at $1,202,160,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HOOD shares. Jefferies Financial Group dropped their price target on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. China Renaissance started coverage on Robinhood Markets in a research note on Tuesday, July 7th. They issued a “buy” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $125.00 price target on shares of Robinhood Markets in a research note on Thursday, July 2nd. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.22.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $94.91 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86. The stock’s 50-day moving average is $96.52 and its two-hundred day moving average is $88.61. The firm has a market cap of $85.47 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 2.15 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last announced 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%.Robinhood Markets’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 250,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the transaction, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by insiders.

Robinhood Markets News Summary

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

• Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
• Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
• Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
• Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
• Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
• Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
• Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market

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.