WCM Investment Management LLC Has $176.49 Million Position in Robinhood Markets, Inc. $HOOD

WCM Investment Management LLC cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 47.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,708,576 shares of the company’s stock after selling 2,449,189 shares during the period. WCM Investment Management LLC’s holdings in Robinhood Markets were worth $176,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Robinhood Markets by 1.4% during the fourth 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 during the period. State Street Corp increased its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its stake in Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after buying an additional 356,902 shares during the period. Morgan Stanley lifted its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after buying an additional 2,061,832 shares during the period. Finally, Norges Bank acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Robinhood Markets in a research report on Tuesday, April 14th. Citizens Jmp reiterated a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a research report on Thursday, May 28th. Argus increased their target price on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Barclays raised their price target on shares of Robinhood Markets from $82.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Truist Financial decreased their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.70.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $99.96 on Monday. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86. The business has a 50 day moving average price of $94.26 and a 200-day moving average price of $88.89. The company has a market cap of $90.01 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 2.11 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last issued its 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 return on equity of 21.39% and a net margin of 41.12%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Robinhood Markets’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka acquired 250,000 shares of the stock in a transaction on Friday, June 5th. The shares were 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 owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This represents a 6.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 19,377 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider directly owned 62,612 shares in the company, valued at $7,510,935.52. This trade represents a 23.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Corporate insiders own 13.48% of the company’s stock.

Robinhood Markets News Summary

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 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.