Atlas Capital Advisors Inc. Acquires New Shares in Robinhood Markets, Inc. $HOOD

Atlas Capital Advisors Inc. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 15,231 shares of the company’s stock, valued at approximately $1,723,000.

Several other hedge funds also recently modified their holdings of the company. Aberdeen Group plc lifted its holdings in Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after buying an additional 157,643 shares during the period. NEOS Investment Management LLC acquired a new position in Robinhood Markets during the 3rd quarter worth about $11,994,000. Truist Financial Corp lifted its holdings in Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after buying an additional 68,458 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 86.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Robinhood Markets by 26.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after buying an additional 76,075 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $93.19 on Friday. The stock has a 50 day moving average price of $80.09 and a two-hundred day moving average price of $92.18. The firm has a market capitalization of $83.92 billion, a P/E ratio of 45.02, a P/E/G ratio of 2.33 and a beta of 2.35. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current year.

Robinhood Markets News Roundup

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

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Loop Capital set a $94.00 target price on Robinhood Markets in a report on Wednesday, May 27th. Truist Financial cut their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Zacks Research raised Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a report on Thursday, May 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Friday, March 27th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.73.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider directly owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the sale, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This represents a 11.67% 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. In the last three months, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 571,602 shares worth $41,959,746. Company insiders own 14.47% of the company’s stock.

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.