Mediolanum International Funds Ltd Has $457,000 Stock Position in Robinhood Markets, Inc. $HOOD

Mediolanum International Funds Ltd lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 95.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,021 shares of the company’s stock after selling 165,949 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Robinhood Markets were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of HOOD. Spartan Wealth Advisory Services LLC acquired a new position in Robinhood Markets during the first quarter worth $417,000. Ascent Wealth Partners LLC lifted its position in shares of Robinhood Markets by 84.4% in the first quarter. Ascent Wealth Partners LLC now owns 4,989 shares of the company’s stock worth $346,000 after buying an additional 2,284 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in shares of Robinhood Markets by 46.7% in the first quarter. Kesler Norman & Wride LLC now owns 4,010 shares of the company’s stock worth $278,000 after buying an additional 1,276 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Robinhood Markets by 2.4% during the 1st quarter. Kera Capital Partners Inc. now owns 116,096 shares of the company’s stock worth $8,045,000 after acquiring an additional 2,756 shares in the last quarter. Finally, Gryphon Financial Partners LLC boosted its stake in shares of Robinhood Markets by 230.3% during the 1st quarter. Gryphon Financial Partners LLC now owns 11,894 shares of the company’s stock worth $824,000 after acquiring an additional 8,293 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 19,377 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the transaction, the insider owned 62,612 shares of the company’s stock, valued at approximately $7,510,935.52. The trade was a 23.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.14, for a total transaction of $1,161,400.00. Following the transaction, the insider owned 471,396 shares of the company’s stock, valued at approximately $54,747,931.44. The trade was a 2.08% 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 90 days, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Insiders own 13.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Robinhood Markets from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Loop Capital set a $110.00 price target on Robinhood Markets in a report on Wednesday, June 17th. Wall Street Zen raised shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research note on Thursday, July 2nd. Finally, Zacks Research raised shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $121.13.

Key Robinhood Markets News

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

• Positive Sentiment: Bernstein raised its price target on HOOD to $160 from $130 and said Robinhood’s prediction markets business could become a major revenue driver, potentially overtaking crypto revenue. Bernstein raises Robinhood price target to $160 as prediction markets revenue could overtake crypto
• Positive Sentiment: Needham & Company also lifted its price target on HOOD to $123 from $97 and maintained a buy rating, reinforcing the view that the stock still has upside from current levels.
• Positive Sentiment: Bloomberg reported that analysts see Robinhood’s prediction market revenue becoming larger than its crypto business, which supports the bullish narrative that HOOD is building new high-growth income streams. Robinhood Prediction Market Revenue to Top Crypto, Analysts Say
• Positive Sentiment: Investor sentiment around crypto-related stocks improved as Bitcoin recovered, helping lift HOOD alongside peers like Circle and Strategy. Circle, Robinhood, Strategy stocks surge on Bitcoin comeback

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $106.36 on Wednesday. The stock has a 50-day simple moving average of $95.20 and a 200 day simple moving average of $88.73. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The stock has a market capitalization of $95.78 billion, a PE ratio of 51.38, a P/E/G ratio of 2.10 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business 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 earned $0.37 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.

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.