Circle Wealth Management LLC Sells 10,737 Shares of Robinhood Markets, Inc. $HOOD

Circle Wealth Management LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,712 shares of the company’s stock after selling 10,737 shares during the quarter. Circle Wealth Management LLC’s holdings in Robinhood Markets were worth $3,360,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its position in Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after buying an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC boosted its position in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. Swiss RE Ltd. acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. Finally, Godsey & Gibb Inc. acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Up 1.0%

HOOD opened at $93.19 on Friday. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The company has a market cap of $83.92 billion, a P/E ratio of 45.02, a price-to-earnings-growth ratio of 2.31 and a beta of 2.35. The company has a fifty day moving average price of $80.09 and a two-hundred day moving average price of $92.18.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.83 EPS for the current fiscal year.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HOOD shares. Barclays cut their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Friday, March 27th. Sanford C. Bernstein restated an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a research report on Tuesday, April 14th. Argus cut their target price on shares of Robinhood Markets from $102.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. 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. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.73.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka acquired 250,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the completion of the acquisition, the director directly owned 3,924,427 shares in the company, valued at $316,858,235.98. The trade was a 6.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total value of $836,800.00. Following the sale, the insider owned 481,396 shares of the company’s stock, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their position. 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 purchased 680,000 shares of company stock valued at $55,306,560 and sold 571,602 shares valued at $41,959,746. 14.47% of the stock is currently owned by company insiders.

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.