Wealthfront Advisers LLC Purchases 14,809 Shares of Robinhood Markets, Inc. $HOOD

Wealthfront Advisers LLC lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 172,899 shares of the company’s stock after acquiring an additional 14,809 shares during the quarter. Wealthfront Advisers LLC’s holdings in Robinhood Markets were worth $11,982,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

HOOD has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $130.00 price target on shares of Robinhood Markets in a report on Tuesday, April 14th. Citizens Jmp reissued a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, May 28th. Needham & Company LLC increased their price objective on Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Keefe, Bruyette & Woods decreased their target price on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Finally, Morgan Stanley boosted their target price on Robinhood Markets from $95.00 to $124.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.70.

Insider Buying and Selling

In other news, Director Meyer Malka bought 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $80.74 per share, with a total value of $20,185,000.00. Following the acquisition, the director owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. 13.48% of the stock is owned by insiders.

Key Stories Impacting Robinhood Markets

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 Trading Down 5.7%

Robinhood Markets stock opened at $99.96 on Friday. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The firm has a market capitalization of $90.01 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 2.24 and a beta of 2.33. The firm has a 50 day simple moving average of $94.26 and a 200 day simple moving average of $89.09.

Robinhood Markets (NASDAQ:HOOD) last posted 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). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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 was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

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.