Renaissance Technologies LLC Acquires 1,668,400 Shares of Robinhood Markets, Inc. $HOOD

Renaissance Technologies LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 48.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,104,137 shares of the company’s stock after purchasing an additional 1,668,400 shares during the period. Robinhood Markets accounts for approximately 0.6% of Renaissance Technologies LLC’s portfolio, making the stock its 15th largest position. Renaissance Technologies LLC’s holdings in Robinhood Markets were worth $353,717,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GC Wealth Management RIA LLC increased its position in Robinhood Markets by 1.9% during the first quarter. GC Wealth Management RIA LLC now owns 82,190 shares of the company’s stock worth $5,696,000 after acquiring an additional 1,496 shares during the period. Brooklands Fund Management Ltd bought a new stake in Robinhood Markets in the 1st quarter valued at $194,000. Modern Wealth Management LLC boosted its holdings in Robinhood Markets by 25.4% in the 1st quarter. Modern Wealth Management LLC now owns 3,037 shares of the company’s stock valued at $213,000 after purchasing an additional 615 shares during the period. Caxton Associates LLP grew its position in Robinhood Markets by 432.4% in the 1st quarter. Caxton Associates LLP now owns 13,374 shares of the company’s stock worth $927,000 after purchasing an additional 10,862 shares during the last quarter. Finally, Aspen Grove Capital LLC grew its position in Robinhood Markets by 4.0% in the 1st quarter. Aspen Grove Capital LLC now owns 8,105 shares of the company’s stock worth $562,000 after purchasing an additional 312 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $94.91 on Friday. The company has a 50-day moving average of $96.52 and a 200-day moving average of $88.61. The company has a market capitalization of $85.47 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 2.15 and a beta of 2.33. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted 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 net margin of 41.12% and a return on equity of 21.39%. 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 previous year, the firm earned $0.37 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
• Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
• Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
• Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
• Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
• Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
• Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider directly owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the completion of the sale, the insider owned 62,612 shares in the company, valued at approximately $7,510,935.52. This represents a 23.63% decrease in their ownership of the stock. 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 have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. 13.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on HOOD. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. The Goldman Sachs Group boosted their price target on Robinhood Markets from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Argus upped their price target on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $122.22.

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.