TD Asset Management Inc Decreases Stake in Robinhood Markets, Inc. $HOOD

TD Asset Management Inc cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 405,398 shares of the company’s stock after selling 30,618 shares during the quarter. TD Asset Management Inc’s holdings in Robinhood Markets were worth $45,851,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vision Financial Markets LLC raised its position in Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the last quarter. Elyxium Wealth LLC purchased a new position in Robinhood Markets during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in Robinhood Markets during the 4th quarter worth approximately $28,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD opened at $82.47 on Friday. The firm has a fifty day moving average price of $78.09 and a 200 day moving average price of $93.03. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The stock has a market cap of $74.27 billion, a P/E ratio of 39.84, a P/E/G ratio of 2.47 and a beta of 2.35.

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). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Robinhood Markets News Roundup

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

Analyst Ratings Changes

A number of research firms have issued reports on HOOD. Sanford C. Bernstein reissued an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research report on Tuesday, April 14th. Barclays reduced their price target on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Loop Capital set a $94.00 price target on shares of Robinhood Markets in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of Robinhood Markets from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Mizuho raised their price target on shares of Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.54.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka bought 249,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $80.39 per share, for a total transaction of $20,017,110.00. Following the purchase, the director directly owned 3,493,427 shares in the company, valued at approximately $280,836,596.53. This trade represents a 7.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction on 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 $7,043,674.99. This represents 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 90 days, insiders sold 571,602 shares of company stock worth $41,959,746. 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.