Bank of New York Mellon Corp Decreases Stock Holdings in Robinhood Markets, Inc. $HOOD

Bank of New York Mellon Corp lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,733,284 shares of the company’s stock after selling 31,566 shares during the quarter. Bank of New York Mellon Corp’s holdings in Robinhood Markets were worth $258,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. Sound Income Strategies LLC grew its position in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC raised its stake in shares of Robinhood Markets by 527.8% in the fourth 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 purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at $27,000. MV Capital Management Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter worth $27,000. Finally, Swiss RE Ltd. purchased a new position in shares of Robinhood Markets during the fourth quarter worth $27,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BTIG Research restated a “buy” rating and set a $125.00 price target on shares of Robinhood Markets in a research report on Thursday, July 2nd. Truist Financial dropped their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Loop Capital set a $110.00 target price on Robinhood Markets in a research report on Wednesday, June 17th. Finally, KeyCorp reissued an “overweight” rating and issued a $100.00 price target on shares of Robinhood Markets in a research note on Monday, June 1st. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.70.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 471,396 shares in the company, valued at approximately $54,747,931.44. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Johnson Treseder sold 3,750 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $117.50, for a total transaction of $440,625.00. Following the completion of the sale, the director owned 72,442 shares of the company’s stock, valued at approximately $8,511,935. This trade represents a 4.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company’s stock.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Robinhood Markets Trading Down 5.7%

NASDAQ:HOOD opened at $99.96 on Friday. The stock has a fifty day moving average price of $94.26 and a 200 day moving average price of $89.09. The firm has a market cap of $90.01 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 2.24 and a beta of 2.33. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

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.