Sei Investments Co. Lowers Position in Robinhood Markets, Inc. $HOOD

Sei Investments Co. decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 491,340 shares of the company’s stock after selling 136,111 shares during the quarter. Sei Investments Co. owned about 0.05% of Robinhood Markets worth $34,056,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after purchasing an additional 1,334,443 shares in the last quarter. State Street Corp increased its holdings in shares of Robinhood Markets by 2.7% in the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after purchasing an additional 875,297 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after purchasing an additional 356,902 shares during the last quarter. Morgan Stanley lifted its position in shares of Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after buying an additional 2,061,832 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $1,202,160,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

More Robinhood Markets News

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

• Positive Sentiment: Robinhood is reportedly considering a partnership with Crypto.com to expand its prediction-market offerings. The arrangement could improve market reliability, broaden event coverage and allow Robinhood to capture more economics from the growing business. HOOD Eyes Deeper Push Into Prediction Markets: What Does This Mean?
• Positive Sentiment: Robinhood’s blockchain strategy is gaining attention, with its Robinhood Chain reportedly ranking third among applications by weekly fees at approximately $25 million. Growth in real-world assets, meme coins and prediction markets could create additional transaction and platform revenue opportunities. Robinhood Bets on 3 Crypto Sectors as Blockchain Fees Hit $25 Million
• Neutral Sentiment: Robinhood is scheduled to report second-quarter earnings, with investors looking for continued strength in stock and options trading. The prediction-market initiative offers a potential growth avenue, but any Crypto.com agreement remains unconfirmed and could face regulatory scrutiny. Robinhood to Report Earnings Tomorrow
• Negative Sentiment: Analysts caution that weak cryptocurrency activity, rising expenses and Robinhood’s premium valuation cloud the outlook heading into earnings. The stock’s elevated valuation leaves less room for disappointment if revenue or guidance falls short of expectations. Buy, Hold or Sell Robinhood Stock? Key Insights Ahead of Q2 Earnings

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $95.65 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The firm has a market capitalization of $86.13 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.00 and a beta of 2.33. The stock has a 50 day moving average price of $96.89 and a 200 day moving average price of $88.19.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on HOOD shares. Needham & Company LLC raised their price target on Robinhood Markets from $97.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Mizuho upped their price target on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of Robinhood Markets in a research report on Tuesday, June 9th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.22.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka purchased 250,000 shares of Robinhood Markets stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the acquisition, the director owned 3,924,427 shares in the company, valued at $316,858,235.98. This trade represents a 6.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the sale, the insider directly owned 62,612 shares of the company’s stock, valued at $7,510,935.52. The trade was a 23.63% 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. In the last ninety days, insiders have bought 680,000 shares of company stock worth $55,306,560 and have sold 582,040 shares worth $62,113,242. Company insiders own 13.48% of the company’s stock.

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.