Robinhood Markets, Inc. $HOOD Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,818 shares of the company’s stock after purchasing an additional 31,042 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Robinhood Markets were worth $39,917,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Verus Capital Partners LLC lifted its holdings in shares of Robinhood Markets by 11.5% during the 3rd quarter. Verus Capital Partners LLC now owns 3,474 shares of the company’s stock valued at $391,000 after buying an additional 359 shares during the last quarter. United Advisor Group LLC grew its stake in shares of Robinhood Markets by 10.9% in the 3rd quarter. United Advisor Group LLC now owns 6,058 shares of the company’s stock valued at $682,000 after buying an additional 594 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in shares of Robinhood Markets by 1.9% in the 3rd quarter. Kingstone Capital Partners Texas LLC now owns 64,245 shares of the company’s stock valued at $7,228,000 after buying an additional 1,206 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Robinhood Markets by 94.1% in the 3rd quarter. Alps Advisors Inc. now owns 12,667 shares of the company’s stock valued at $1,425,000 after buying an additional 6,140 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in Robinhood Markets by 11.5% in the third quarter. Ashton Thomas Private Wealth LLC now owns 11,536 shares of the company’s stock worth $1,298,000 after buying an additional 1,190 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD opened at $81.33 on Wednesday. The company has a market cap of $73.24 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 1.86 and a beta of 2.56. The stock has a 50-day moving average of $105.08 and a 200-day moving average of $92.06. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $139.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Robinhood Markets had a return on equity of 21.49% and a net margin of 39.04%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 2.10 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $113.72, for a total value of $42,645,000.00. Following the completion of the sale, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $42,645,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the sale, the chief financial officer directly owned 56,858 shares of the company’s stock, valued at approximately $6,278,260.36. This represents a 16.79% 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 ninety days, insiders have sold 1,095,820 shares of company stock valued at $128,775,816. Insiders own 13.48% of the company’s stock.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood is opening access to U.S. IPOs for U.K. retail investors with zero commission. The expansion could attract customers and broaden its international reach. Article: Robinhood opens US IPOs to UK retail investors with zero commission
• Positive Sentiment: The CFO said Robinhood is making sure companies considering IPOs, including Anthropic, know that retail investors are ready to participate. The effort could support Robinhood’s role in future IPO distribution, though it does not guarantee a deal. Article: Robinhood CFO on Anthropic’s IPO
• Neutral Sentiment: Robinhood’s stock-tokenization plans could help make U.S. equities more accessible abroad, but a report says 90% of targeted companies opted out of the initiative, raising questions about issuer participation and adoption. Article: Robinhood Lets OKX-ICE Tokenize Its Shares While 90% of Targeted Companies Opt Out
• Neutral Sentiment: A short-interest report claims a large increase but lists total short interest as zero shares, an apparent inconsistency that makes the data difficult to interpret.
• Negative Sentiment: Hotter-than-forecast inflation sent Bitcoin lower and revived expectations for tighter Federal Reserve policy, pressuring crypto-exposed trading platforms, including Robinhood. Article: Hot inflation data drags Bitcoin lower and weighs on trading platforms
• Negative Sentiment: A California court ruling curbing Kalshi sports contracts highlights regulatory risk for Robinhood’s prediction-market expansion, although the company’s diversified revenue streams may help cushion the impact. Article: California Court Curbs Kalshi Sports Contracts: Is HOOD at Risk?

Analyst Ratings Changes

Several brokerages recently weighed in on HOOD. Truist Financial cut their price objective on shares of Robinhood Markets from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Needham & Company LLC reduced their target price on shares of Robinhood Markets from $126.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. UBS Group reissued a “buy” rating on shares of Robinhood Markets in a research report on Friday, October 30th. Morgan Stanley increased their price target on shares of Robinhood Markets from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Finally, Scotiabank cut their price target on shares of Robinhood Markets from $136.00 to $124.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $126.45.

Robinhood Markets Company Profile

Robinhood Markets, Inc. operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services. Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.