Jennison Associates LLC Trims Stake in Robinhood Markets, Inc. $HOOD

Jennison Associates LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 67.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,449,702 shares of the company’s stock after selling 2,962,334 shares during the quarter. Jennison Associates LLC’s holdings in Robinhood Markets were worth $100,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares during the period. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after buying an additional 46,688 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Robinhood Markets by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock valued at $44,477,000 after buying an additional 76,075 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Robinhood Markets by 196.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Robinhood Markets by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 712,721 shares of the company’s stock worth $81,585,000 after buying an additional 35,471 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, Director Oluwadara Johnson Treseder sold 3,750 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $117.50, for a total value of $440,625.00. Following the transaction, the director directly owned 72,442 shares of the company’s stock, valued at approximately $8,511,935. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the firm’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 completion of 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. 13.48% of the stock is owned by insiders.

More Robinhood Markets News

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 Stock Performance

NASDAQ HOOD opened at $99.96 on Monday. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The company has a fifty day simple moving average of $94.26 and a two-hundred day simple moving average of $88.89. The stock has a market cap of $90.01 billion, a P/E ratio of 48.29, a P/E/G ratio of 2.11 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.37 earnings per share. Robinhood Markets’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. 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. The Goldman Sachs Group boosted their price target on Robinhood Markets from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.70.

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.