Multicoin Capital Management LLC Makes New $47.13 Million Investment in Robinhood Markets, Inc. $HOOD

Multicoin Capital Management LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, Holdings Channel reports. The firm purchased 680,100 shares of the company’s stock, valued at approximately $47,131,000. Robinhood Markets comprises approximately 62.1% of Multicoin Capital Management LLC’s holdings, making the stock its largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOOD. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after buying an additional 1,334,443 shares during the last quarter. State Street Corp boosted its position in Robinhood Markets by 2.7% during the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after purchasing an additional 875,297 shares during the period. Geode Capital Management LLC grew its stake in Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after buying an additional 356,902 shares during the last quarter. Morgan Stanley lifted its holdings in 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 last quarter. Finally, Norges Bank bought a new stake in shares of Robinhood Markets in the fourth quarter valued at about $1,202,160,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Key Robinhood Markets News

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

• Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
• Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
• Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
• Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
• Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
• Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
• Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the completion of the sale, the insider owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% 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 quarter, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 582,040 shares valued at $62,113,242. 13.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on HOOD. Argus raised their price objective on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods decreased their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Jefferies Financial Group lowered their price objective on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $110.00 price target on shares of Robinhood Markets in a research report on Tuesday, June 9th. Finally, Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.22.

Robinhood Markets Price Performance

HOOD opened at $94.91 on Monday. The firm has a market capitalization of $85.47 billion, a P/E ratio of 45.85, a PEG ratio of 2.00 and a beta of 2.33. The company’s 50-day moving average is $96.52 and its 200 day moving average is $88.37. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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 business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

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.