Rockefeller Capital Management L.P. Cuts Stake in Robinhood Markets, Inc. $HOOD

Rockefeller Capital Management L.P. cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,229 shares of the company’s stock after selling 65,005 shares during the period. Rockefeller Capital Management L.P.’s holdings in Robinhood Markets were worth $10,318,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. World Investment Advisors raised its stake in Robinhood Markets by 18.5% during the fourth quarter. World Investment Advisors now owns 15,635 shares of the company’s stock worth $1,768,000 after purchasing an additional 2,443 shares during the period. Nalls Sherbakoff Group LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $57,000. Corient Private Wealth LLC grew its stake in shares of Robinhood Markets by 94.3% during the 4th quarter. Corient Private Wealth LLC now owns 93,449 shares of the company’s stock valued at $10,588,000 after buying an additional 45,344 shares during the period. Hsbc Holdings PLC grew its stake in shares of Robinhood Markets by 9.8% during the 4th quarter. Hsbc Holdings PLC now owns 1,449,346 shares of the company’s stock valued at $164,612,000 after buying an additional 129,095 shares during the period. Finally, SHP Wealth Management acquired a new stake in shares of Robinhood Markets during the 4th quarter worth $32,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Steven M. Quirk sold 10,837 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was 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 $7,043,674.99. This trade represents a 11.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,984 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $98.84, for a total value of $393,778.56. Following the sale, the chief financial officer owned 59,927 shares of the company’s stock, valued at $5,923,184.68. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 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 News Summary

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

• Positive Sentiment: Robinhood said it will use about $290 million of the convertible note proceeds to repurchase shares, while capped calls are intended to reduce dilution if the notes are converted. Article Title
• Positive Sentiment: Truist remained bullish on Robinhood, saying June trading volumes point to a record quarter and transaction revenue may come in ahead of estimates. Article Title
• Neutral Sentiment: Robinhood’s stock remains a heavily watched name, with mixed coverage from recent articles discussing its long-term business model, trading activity, and founder Baiju Bhatt’s origin story. Article Title
• Neutral Sentiment: Analyst notes and market commentary continue to highlight Robinhood’s growth versus volatility, with some bullish price targets but also debate over the durability of its growth drivers. Article Title
• Negative Sentiment: The $2 billion convertible debt raise raised dilution concerns, even with capped calls and buybacks meant to soften the impact. Article Title
• Negative Sentiment: Meta’s reported work on a prediction-market app pressured Robinhood by raising the risk of new competition in a potentially important product category. Article Title

Robinhood Markets Stock Down 5.9%

HOOD opened at $97.18 on Thursday. The firm has a market capitalization of $87.52 billion, a P/E ratio of 46.95, a P/E/G ratio of 1.90 and a beta of 2.35. The firm’s 50 day moving average is $85.34 and its 200-day moving average is $90.62. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion for 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%.The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HOOD shares. The Goldman Sachs Group increased their target price on Robinhood Markets from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Needham & Company LLC boosted their price target on Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Sanford C. Bernstein restated an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research note on Tuesday, April 14th. New Street Research set a $122.00 price objective on Robinhood Markets in a report on Thursday, March 5th. Finally, Barclays reduced their price objective on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $112.36.

Robinhood Markets 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.