Sterling Capital Management LLC Sells 13,888 Shares of Robinhood Markets, Inc. $HOOD

Sterling Capital Management LLC cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,015 shares of the company’s stock after selling 13,888 shares during the quarter. Sterling Capital Management LLC’s holdings in Robinhood Markets were worth $2,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambient Family Office LLC raised its stake in shares of Robinhood Markets by 10.2% in the first quarter. Cambient Family Office LLC now owns 34,178 shares of the company’s stock valued at $2,369,000 after purchasing an additional 3,170 shares in the last quarter. Rooted Wealth Advisors Inc. acquired a new stake in Robinhood Markets during the first quarter worth $223,000. WT Wealth Management increased its holdings in Robinhood Markets by 38.1% in the 1st quarter. WT Wealth Management now owns 21,130 shares of the company’s stock valued at $1,464,000 after buying an additional 5,832 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Robinhood Markets by 108.8% in the 1st quarter. Venturi Wealth Management LLC now owns 23,246 shares of the company’s stock valued at $1,611,000 after buying an additional 12,112 shares in the last quarter. Finally, VCI Wealth Management LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $512,000. 93.27% of the stock is currently owned by institutional investors.

Trending Headlines about Robinhood Markets

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

• Positive Sentiment: BTIG initiated coverage on Robinhood with a Buy rating and a $125 price target, saying the company has a long runway for asset growth, customer engagement, and product expansion. The new bullish call is likely helping sentiment. Article Title
• Positive Sentiment: Robinhood closed its $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it more financial flexibility. Management also said capped calls and a share repurchase mean the deal should limit dilution unless the stock rises much further, which may reassure investors. Article Title
• Positive Sentiment: Robinhood is also promoting growth through customer perks, including World Cup ticket giveaways to boost its Gold subscriber base, suggesting continued efforts to deepen engagement and subscription revenue. Article Title
• Neutral Sentiment: Robinhood is attracting investor attention as a high-yield ETF idea and continues to appear in market roundups, but these items are more about trading interest than a direct business catalyst. Article Title
• Neutral Sentiment: A comparison piece on SCHW vs. HOOD frames Robinhood as a value debate rather than providing a new company-specific catalyst. Article Title
• Negative Sentiment: Robinhood previously fell after reports that Meta is developing a competing prediction-markets app, raising concerns about future competition in one of Robinhood’s newer growth areas. Article Title

Robinhood Markets Price Performance

HOOD stock opened at $98.69 on Monday. The company has a 50 day moving average price of $85.85 and a 200 day moving average price of $90.09. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86. The stock has a market capitalization of $88.87 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 2.32 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced 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 firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Truist Financial dropped their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Sanford C. Bernstein restated an “outperform” rating and set a $130.00 target price on shares of Robinhood Markets in a research report on Tuesday, April 14th. The Goldman Sachs Group upped their price target on Robinhood Markets from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Needham & Company LLC increased their price objective on Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $113.68.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the sale, the insider directly owned 432,849 shares of the company’s stock, valued at $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. 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 have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. 19.95% of the stock is currently owned by insiders.

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.