Floyd Financial Group LLC Takes Position in Robinhood Markets, Inc. $HOOD

Floyd Financial Group LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,760 shares of the company’s stock, valued at approximately $991,000.

Several other institutional investors have also bought and sold shares of the stock. Sound Income Strategies LLC lifted its holdings in shares of Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $27,000. MV Capital Management Inc. acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $27,000. Finally, Swiss RE Ltd. bought a new position in Robinhood Markets during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CFO Shiv Verma sold 3,984 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $98.84, for a total transaction of $393,778.56. Following the transaction, the chief financial officer owned 59,927 shares of the company’s stock, valued at approximately $5,923,184.68. This represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $931,006.67. Following the completion of the sale, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This trade 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. Over the last three months, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. 14.47% of the stock is owned by company insiders.

Robinhood Markets News Summary

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

• Positive Sentiment: Robinhood announced plans to cut about 10% of its workforce, which investors are viewing as a move to improve efficiency, speed product launches, and support margins. Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench
• Positive Sentiment: Multiple Wall Street firms turned constructive after the layoff announcement, including Argus raising its price target on HOOD to $110 and keeping a buy rating, reinforcing the view that the stock still has room to run. Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
• Positive Sentiment: Reports that Robinhood posted record June trading volumes have boosted optimism that revenue momentum is still strong despite the restructuring. Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Coverage on Thursday noted HOOD was outperforming the broader market and may be breaking out above prior resistance, adding technical momentum to the rally. Stock Of The Day: Will Robinhood Break Out?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold more Robinhood shares during the run-up, which is a notable flow headline but not necessarily a fundamental warning sign. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Neutral Sentiment: Robinhood remains highly tied to crypto and prediction-market activity, so continued upside may depend on those growth drivers and broader market conditions. Is the SpaceX IPO Enough to Rescue Robinhood Stock?

Robinhood Markets Stock Up 2.8%

Shares of NASDAQ:HOOD opened at $108.15 on Friday. The firm has a market cap of $97.39 billion, a P/E ratio of 52.25, a P/E/G ratio of 2.63 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’s 50-day moving average price is $82.71 and its two-hundred day moving average price is $91.37.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. KeyCorp reiterated an “overweight” rating and issued a $100.00 target price on shares of Robinhood Markets in a research note on Monday, June 1st. Zacks Research raised Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, New Street Research set a $122.00 price target on Robinhood Markets in a research report on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.36.

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.