Trust Asset Management LLC Invests $601,000 in Robinhood Markets, Inc. $HOOD

Trust Asset Management LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,672 shares of the company’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $1,202,160,000. Corient Private Wealth LLC increased its stake in shares of Robinhood Markets by 5,221.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after purchasing an additional 2,511,743 shares during the period. Jennison Associates LLC increased its stake in shares of Robinhood Markets by 95.7% in the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock worth $499,001,000 after purchasing an additional 2,157,372 shares during the period. Finally, Morgan Stanley lifted its position in shares of Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after purchasing an additional 2,061,832 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $93.47 on Friday. The company has a 50-day moving average of $85.63 and a 200-day moving average of $90.35. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86. The company has a market capitalization of $84.17 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.79 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.8 EPS for the current year.

Key Stories Impacting Robinhood Markets

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

• Positive Sentiment: Robinhood closed a $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it additional capital to fund growth initiatives. The company also used part of the proceeds to repurchase stock and buy capped calls intended to reduce dilution risk, which may help support long-term shareholder value. Robinhood Closes Offering of $2.2 Billion of 0.00% Convertible Senior Notes Due 2029
• Positive Sentiment: Robinhood is promoting its Gold subscription with perks such as World Cup tickets, a sign it is actively trying to grow recurring revenue and deepen customer engagement. Robinhood dangles World Cup tickets to boost Gold subscriber base
• Neutral Sentiment: Short-interest data showed no meaningful update, with reported short interest still at 0 shares, offering little insight into current bearish positioning.
• Negative Sentiment: Reports that Meta is building a rival prediction-markets app could pressure Robinhood’s competitive position and limit enthusiasm for its event-based trading expansion. Why Robinhood (HOOD) Stock Is Down Today

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 57,898 shares of Robinhood Markets stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total transaction of $5,189,397.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $80.74 per share, for a total transaction of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. Company insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. Argus increased their target price on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley dropped their price target on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Loop Capital set a $110.00 price target on Robinhood Markets in a report on Wednesday, June 17th. Barclays lowered their price objective on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their target price on shares of Robinhood Markets from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $112.36.

About Robinhood Markets

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.