Robinhood Markets, Inc. $HOOD Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 56.9% in the 1st quarter, HoldingsChannel reports. The firm owned 58,235 shares of the company’s stock after selling 76,881 shares during the quarter. NewEdge Advisors LLC’s holdings in Robinhood Markets were worth $4,036,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Glenmede Trust Co. NA lifted its stake in shares of Robinhood Markets by 22.5% in the 1st quarter. Glenmede Trust Co. NA now owns 10,426 shares of the company’s stock worth $723,000 after acquiring an additional 1,914 shares during the period. Summitry LLC bought a new position in Robinhood Markets during the 1st quarter valued at $432,000. Groupama Asset Managment acquired a new position in shares of Robinhood Markets during the 1st quarter valued at $260,000. J. Derek Lewis & Associates Inc. acquired a new position in Robinhood Markets during the first quarter worth about $218,000. Finally, BankChampaign National Association acquired a new position in Robinhood Markets during the first quarter worth about $739,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood’s second-quarter results showed strong underlying momentum: revenue reached a record $1.31 billion, up 32% year over year, while EPS of $0.62 exceeded expectations and net income rose 48% to $573 million. The company also reported 13 business lines generating more than $100 million in annualized revenue, suggesting less dependence on crypto trading. Robinhood’s Crypto Slump Got the Headlines. Its 10x Business Got Ignored
• Positive Sentiment: The company is expanding in the United Kingdom with zero-fee cryptocurrency trading for eligible customers. The initiative could increase international users, trading volume and transaction revenue while strengthening Robinhood’s all-in-one investment platform. Can Robinhood’s UK Crypto Push Boost Volume and Trading Revenues?
• Positive Sentiment: Zerohash said banks, brokerages and payment companies can now connect to Robinhood Chain and assets such as Global Dollar, potentially improving institutional adoption and supporting Robinhood’s blockchain strategy. Zerohash Connects Financial Institutions to Robinhood Chain
• Neutral Sentiment: Robinhood is being identified as a potentially volatile growth stock ahead of July inflation data. Higher-than-expected CPI could pressure richly valued technology and speculative assets, while softer inflation could improve investor risk appetite. Stocks That Could Swing After July CPI
• Neutral Sentiment: Polymarket’s hiring of veterans from Robinhood, Coinbase and Nasdaq highlights increasing competition and regulatory focus in prediction markets, but the direct financial impact on HOOD is uncertain. Polymarket Builds U.S. Operation
• Negative Sentiment: Despite record earnings, investor attention remains focused on a 38% decline in crypto volume. That weakness could weigh on transaction revenue and helps explain why the stock has not fully reflected the strong quarterly results. Robinhood’s Diversified Business Lines

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $94.91 on Thursday. The company’s fifty day moving average is $99.61 and its two-hundred day moving average is $86.42. The company has a market cap of $85.33 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 1.85 and a beta of 2.35. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.Robinhood Markets’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total value of $2,324,464.92. Following the transaction, the insider owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $90.42, for a total transaction of $904,200.00. Following the sale, the insider owned 461,396 shares of the company’s stock, valued at approximately $41,719,426.32. This represents a 2.12% 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. In the last three months, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 631,263 shares worth $66,929,157. 13.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on HOOD. JPMorgan Chase & Co. reduced their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. KeyCorp upped their price target on Robinhood Markets from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Finally, Sanford C. Bernstein increased their price objective on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Twenty-one equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.52.

Robinhood Markets Company 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.