Whetstone Capital Advisors LLC Raises Position in Robinhood Markets, Inc. $HOOD

Whetstone Capital Advisors LLC increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.8% during the second quarter, HoldingsChannel reports. The firm owned 54,755 shares of the company’s stock after acquiring an additional 4,419 shares during the period. Robinhood Markets comprises approximately 1.4% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 19th biggest holding. Whetstone Capital Advisors LLC’s holdings in Robinhood Markets were worth $5,491,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of HOOD. California State Teachers Retirement System raised its stake in shares of Robinhood Markets by 9,976.4% in the second quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company’s stock valued at $11,344,976,000 after buying an additional 112,010,233 shares during the period. State Street Corp grew its stake in shares of Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after acquiring an additional 875,297 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $2,386,944,000 after acquiring an additional 356,902 shares during the last quarter. Morgan Stanley increased its holdings in Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after acquiring an additional 2,061,832 shares during the last quarter. Finally, Norges Bank bought a new stake in Robinhood Markets in the 4th quarter valued at about $1,202,160,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the subject of a number of research reports. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. China Renaissance started coverage on shares of Robinhood Markets in a research report on Tuesday, July 7th. They issued a “buy” rating on the stock. Argus upped their price target on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Citizens Jmp reissued a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a report on Thursday, July 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $160.00 target price on shares of Robinhood Markets in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.42.

Robinhood Markets Trading Down 1.8%

Shares of HOOD stock opened at $115.28 on Thursday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The business’s fifty day moving average is $103.61 and its 200 day moving average is $89.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $103.65 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 2.38 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.18. The firm had revenue of $1.31 billion for 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%.The company’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 50,317 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $96.80, for a total value of $4,870,685.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,982 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $95.07, for a total transaction of $378,568.74. Following the completion of the transaction, the chief financial officer directly owned 51,963 shares in the company, valued at $4,940,122.41. The trade was a 7.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 568,385 shares of company stock valued at $63,880,685 over the last three months. Corporate 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: Prediction-markets expansion: Robinhood agreed to use OG.com, a federally regulated exchange and former Crypto.com business, to provide infrastructure and clearing for event contracts. It will also add Crypto.com contracts and take minority stakes in Crypto.com and the prediction-markets platform. The arrangement could expand Robinhood’s fastest-growing business ahead of the NFL season and diversify revenue beyond traditional trading. Reuters prediction-markets partnership article
• Positive Sentiment: Analyst price-target increases: Jefferies raised its target to $140 from $127 while maintaining a Buy rating, and Cantor Fitzgerald lifted its target to $150 with an Overweight rating. The upgrades reflect optimism about prediction markets, crypto-related products and Robinhood’s expanding business mix. Jefferies Robinhood price-target article
• Positive Sentiment: New investment-banking opportunity: Robinhood is participating as an underwriter for Oura’s planned IPO. The move could increase retail allocations, strengthen relationships with issuers and create a new fee-based revenue stream. Robinhood IPO underwriting article
• Neutral Sentiment: Tokenization remains a strategic growth area: CEO Vlad Tenev said tokenized securities can provide global access to U.S. assets and argued that public companies cannot control financial products built around publicly traded shares. The strategy could broaden Robinhood’s reach, but the dispute with AMC highlights potential issuer-relations and regulatory friction. CNBC tokenization article
• Negative Sentiment: Valuation and sentiment risks: After a sharp August rally, investors may be taking profits while questioning whether prediction markets and crypto products can justify Robinhood’s elevated valuation. Commentary also noted that Robinhood customers have been relatively quiet or selling, which could limit near-term trading momentum. Barchart Robinhood customer-selling article

Robinhood Markets Profile

Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.

The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.