Northwestern Mutual Wealth Management Co. Has $2.98 Million Stock Position in Robinhood Markets, Inc. $HOOD

Northwestern Mutual Wealth Management Co. raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 130.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,365 shares of the company’s stock after buying an additional 14,915 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Robinhood Markets were worth $2,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Caisse Des Depots ET Consignations acquired a new position in shares of Robinhood Markets during the 3rd quarter worth $3,984,000. Aberdeen Group plc boosted its holdings in Robinhood Markets by 565.1% in the third quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after purchasing an additional 157,643 shares in the last quarter. NEOS Investment Management LLC acquired a new position in Robinhood Markets during the third quarter worth $11,994,000. Truist Financial Corp raised its stake in shares of Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Robinhood Markets in the 3rd quarter worth approximately $14,989,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the transaction, the insider owned 432,849 shares in the company, valued at $33,281,759.61. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 181,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average cost of $83.45 per share, for a total transaction of $15,104,450.00. Following the purchase, the director owned 3,674,427 shares in the company, valued at $306,630,933.15. This represents a 5.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 550,765 shares of company stock worth $40,191,940. Insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $88.33 on Friday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The firm has a market capitalization of $79.54 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 2.48 and a beta of 2.35. The company’s fifty day moving average price is $77.90 and its two-hundred day moving average price is $93.10.

Robinhood Markets (NASDAQ:HOOD) last issued 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). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. Robinhood Markets’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. Analysts predict that Robinhood Markets, Inc. will post 1.85 earnings per share for the current fiscal year.

More Robinhood Markets News

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood Markets (HOOD) to $105 from $95 and kept a Buy rating, reinforcing a more bullish valuation view. Benzinga article
• Positive Sentiment: Robinhood expanded its wealth-management push through TradePMR with an advisor network, client referral tools, AI capabilities, lending perks, and broader investment access for RIAs, which could help grow higher-value revenue streams. Yahoo Finance article
• Positive Sentiment: Director Meyer Malka made another large insider purchase, buying 181,000 shares for about $15.1 million, a sign of confidence from a key insider.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of Robinhood Markets in a report on Wednesday, April 29th. Argus reduced their price objective on shares of Robinhood Markets from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Truist Financial lowered their target price on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Wall Street Zen downgraded shares of Robinhood Markets from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Nineteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $106.54.

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.