Robinhood Markets, Inc. $HOOD Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 80.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,180 shares of the company’s stock after selling 417,647 shares during the quarter. Bank of Nova Scotia’s holdings in Robinhood Markets were worth $7,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. CogentBlue Wealth Advisors LLC increased its position in Robinhood Markets by 4.1% during the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after purchasing an additional 98 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Robinhood Markets by 11.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after buying an additional 100 shares in the last quarter. Bogart Wealth LLC lifted its position in Robinhood Markets by 8.5% during the fourth quarter. Bogart Wealth LLC now owns 1,463 shares of the company’s stock valued at $165,000 after buying an additional 114 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Robinhood Markets by 2.8% during the fourth quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company’s stock worth $487,000 after buying an additional 117 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in Robinhood Markets by 90.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 268 shares of the company’s stock worth $28,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka acquired 250,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the acquisition, the director directly owned 3,924,427 shares of the company’s stock, valued at $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,377 shares of Robinhood Markets stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total value of $2,324,464.92. Following the sale, the insider owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% 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. In the last 90 days, insiders have acquired 680,000 shares of company stock valued at $55,306,560 and have sold 582,040 shares valued at $62,113,242. 13.48% of the stock is owned by insiders.

Robinhood Markets Trading Up 0.8%

HOOD opened at $95.65 on Tuesday. The company has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $88.19. The firm has a market cap of $86.13 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.00 and a beta of 2.33. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 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 analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HOOD shares. JPMorgan Chase & Co. cut their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. BTIG Research reissued a “buy” rating and issued a $125.00 price objective on shares of Robinhood Markets in a research report on Thursday, July 2nd. Finally, KeyCorp boosted their price objective on Robinhood Markets from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.22.

Key Stories Impacting Robinhood Markets

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 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.