Altshuler Shaham Ltd Makes New $56.04 Million Investment in Robinhood Markets, Inc. $HOOD

Altshuler Shaham Ltd purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, HoldingsChannel reports. The firm purchased 495,500 shares of the company’s stock, valued at approximately $56,041,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Sound Income Strategies LLC raised 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 worth $26,000 after acquiring an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC raised 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 worth $26,000 after acquiring an additional 190 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $27,000. Swiss RE Ltd. purchased a new position in Robinhood Markets in the 4th quarter worth about $27,000. Finally, Godsey & Gibb Inc. purchased a new position in Robinhood Markets in the 4th quarter worth about $28,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HOOD. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Friday, March 27th. The Goldman Sachs Group lifted their price target on Robinhood Markets from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Argus lifted their price target on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho lifted their price target on Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Needham & Company LLC lifted their price target on Robinhood Markets from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.36.

More Robinhood Markets News

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

• Positive Sentiment: Robinhood announced a planned 10% workforce reduction, which investors are interpreting as a cost-cutting move that could improve efficiency and margins. The company said the restructuring is aimed at flattening management and speeding product launches. WSJ: Robinhood Markets to Cut 10% of Workforce in Restructuring
• Positive Sentiment: Management also said trading activity is running at record levels in June, signaling strong platform engagement and potentially better near-term revenue trends. Motley Fool: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Wall Street responded favorably, with Argus raising its price target on HOOD to $110 from $90 and reiterating a buy rating, reinforcing confidence in the company’s growth outlook. Yahoo Finance: Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
• Positive Sentiment: Multiple reports say analysts remain broadly bullish on Robinhood despite the layoffs, suggesting investors see the company’s growth story as intact. Invezz: Robinhood stock gains as analysts back growth despite layoffs
• Neutral Sentiment: There was also insider selling by CFO Shiv Verma and director Baiju Bhatt, but both sales were disclosed as pre-arranged 10b5-1 transactions, so the market may treat them as routine rather than a major warning sign. SEC filing: Shiv Verma sale SEC filing: Baiju Bhatt sale

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the transaction, the insider owned 432,849 shares of the company’s stock, valued at $33,281,759.61. The trade was a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 250,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the purchase, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $105.20 on Thursday. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86. The stock’s 50-day moving average is $81.94 and its two-hundred day moving average is $91.51. The stock has a market cap of $94.73 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 2.42 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last released its 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 business 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 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.83 earnings per share for the current year.

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.