HOOD – ReportWire

Robinhood Markets (NASDAQ:HOOD) Coverage Initiated by Analysts at Argus

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Argus assumed coverage on shares of Robinhood Markets (NASDAQ:HOOD – Free Report) in a research note issued to investors on Friday morning, MarketBeat reports. The firm issued a buy rating and a $145.00 price target on the stock.

A number of other brokerages have also commented on HOOD. Truist Financial assumed coverage on Robinhood Markets in a research report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 price objective on the stock. Cantor Fitzgerald decreased their price target on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Citigroup boosted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.62.

Check Out Our Latest Stock Report on HOOD

Robinhood Markets Stock Down 0.1%

Shares of NASDAQ HOOD opened at $115.27 on Friday. The company has a market cap of $103.65 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 1.75 and a beta of 2.44. Robinhood Markets has a 12-month low of $29.66 and a 12-month high of $153.86. The firm’s 50-day simple moving average is $123.32 and its 200 day simple moving average is $118.03.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $0.17 earnings per share. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the transaction, the insider owned 54,496 shares of the company’s stock, valued at $7,147,150.40. This trade represents a 47.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $121.58, for a total transaction of $1,215,800.00. Following the transaction, the insider owned 403,612 shares of the company’s stock, valued at approximately $49,071,146.96. This represents a 2.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,296,763 shares of company stock worth $414,016,996 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. North Star Investment Management Corp. grew its stake in Robinhood Markets by 44.9% in the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares during the period. First Command Advisory Services Inc. grew its position in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 81 shares during the period. CogentBlue Wealth Advisors LLC increased its stake in Robinhood Markets by 3.8% during the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock worth $342,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC increased its stake in Robinhood Markets by 5.5% during the 3rd quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after purchasing an additional 97 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Key Robinhood Markets News

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

Positive Sentiment: Argus initiated coverage with a Buy and $145 price target (roughly mid‑teens upside vs. current levels), providing fresh analyst support for the bullish case.

Woman arrested in theft of French bulldog that left victim clinging to hood of car

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Authorities have arrested a woman on suspicion of stealing a French bulldog in downtown Los Angeles last month in an incident that gained attention when onlookers filmed the victim clinging to the hood of a car as it sped away with her dog, Onyx, inside.

Police arrested Sadie Slater, 21, of Los Angeles, in connection with the crime, according to a news release from the Los Angeles Police Department.

Onyx was not recovered as of Saturday afternoon, but detectives were still conducting interviews, police said.

Ali Zacharias’ heartbreak began Jan. 18 when she was on a lunch break with Onyx at the Whole Foods on Grand Avenue near 8th Street, she told The Times in an interview. Onlookers were watching the 44-year-old interact with her dog: a black-and-white-speckled French bulldog a little over a year old with different colored eyes, the left blue and the right green.

The next thing Zacharias knew, she said, a woman had picked up Onyx and was walking away with him.

Onyx, a French bulldog with one blue eye and one green eye, was stolen from his owner in downtown L.A. on Jan. 18.

(Ali Zacharias)

Zacharias said she attempted to follow the woman into a car — a white Kia Forte that held four people — before being pushed out. That’s when she stood in front of the car in an attempt to stop it, then fell onto the hood as it drove forward, she said.

She rode atop the hood for a short way before the car swerved and she rolled off. She was bruised and cut but not badly hurt, she said.

Video of the ordeal was posted on Instagram and widely shared.

French bulldogs are one of the most popular small-breed dogs in the world, according to the American Kennel Club, “especially among city dwellers.” They’re known for their square heads, “bat” ears and charming disposition. Expensive and in high demand, the dogs have been a favorite target of thieves in recent years in the L.A. area.

Two of Lady Gaga’s French bulldogs were stolen in February 2021, and her dog walker was shot and wounded during the heist. The woman who recovered them and later sued — trying to claim the $500,000 reward — was found to be involved with the dognappers. More recently, thieves stole 12 purebred French bulldogs, including a 10-month-old show dog named Roll X, from a Gardena pet shop.

Slater was taken into custody late Friday in Inglewood by members of the LAPD gang and narcotics division and U.S. Marshals’ fugitive task force, according to investigators. She was booked on suspicion of robbery and remained jailed Saturday in lieu of $70,000 bail, jail records state.

Zacharias has offered a reward for her beloved pet’s safe return.

Reward poster for Onyx, a French bulldog with one blue eye and one green eye.

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Alex Wigglesworth, Amy Hubbard

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February 3, 2024

‘Robin Hood: Prince of Thieves’ With Bill Simmons, Chris Ryan, and Van Lathan

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The Ringer’s Bill Simmons, Chris Ryan, and Van Lathan steal from the rich and pod for the poor as they kick off “Wait, this movie made HOW much money?” month with a rewatch of Robin Hood: Prince of Thieves, starring Kevin Costner, Morgan Freeman, Alan Rickman, and Mary Elizabeth Mastrantonio.

Producer: Craig Horlbeck

Subscribe: Spotify / Apple Podcasts / Stitcher / RSS

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Bill Simmons

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November 6, 2023

Robinhood buys back shares from the U.S. Marshal Service, originally owned by FTX founder Sam Bankman-Fried

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Shares of Robinhood Markets Inc.
HOOD,
+2.62%
galloped 2.6% higher Friday, after the trading app disclosed that it bought back 55.3 million of its shares from the U.S. Marshal Service. The company said it paid $605.7 million for the shares, which represents 6.1% of the company’s market capitalization of $9.93 billion at Thursday’s close. The shares were originally acquired through Emergent Fidelity Technologies Ltd. by Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX that collapsed last year. The shares were seized and transferred to the custody of the U.S. Robinhood’s stock has rallied 20.7% over the past three months through Thursday, while the S&P 500
SPX,
+0.24%
has gained 6.8%.

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September 1, 2023

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All eyes have been on shares of Tupperware Brands Corp. and Yellow Corp. in recent days as the stocks have soared despite a dearth of fresh news in the case of the former, and negative news in the case of the latter.

Shares of the beleaguered maker of iconic food-storage containers enjoyed a record 434% gain in July on no apparent news. Yellow’s stock
YELL,
-26.15%
has also skyrocketed, despite reports that the trucking company is facing bankruptcy.

Over the weekend the Wall Street Journal reported that the less-than-truckload company has shut down operations as it prepares for bankruptcy. On Monday the International Brotherhood of Teamsters said it was served legal notice that Yellow was “ceasing operations and filing for bankruptcy.” MarketWatch has reached out to Yellow with a request for comment.

Set against this backdrop, the surging share prices for Tupperware
TUP,
-25.99%
and Yellow have sparked comparisons with the meme stock phenomenon, where discussions on social media can send share prices surging. This trend turned companies such as AMC Entertainment Holdings Inc.
AMC,
-3.45%
and GameStop Corp.
GME,
-4.42%
into meme stock “darlings” in recent years. But Samantha LaDuc, founder of LaDucTrading.com, says there’s a different explanation for what’s been happening to shares of Tupperware and Yellow.

“Literally, it’s short covering, as the paired trade of long quality, short junk unwinds,” she told MarketWatch, via email. “And it typically always precedes volatility.”

Short selling of a stock occurs when an investor borrows shares and sells them immediately expecting the price to drop. The shares can then be repurchased and returned to the lender, with the investor pocketing the difference. Although sometimes vilified, short sellers are actually misunderstood, Robert Sloan, managing partner at financial analytics firm S3 Partners and author of “Don’t Blame the Shorts,” recently told MarketWatch.

In a letter to investors this week, Dan Loeb, the chief executive of the hedge-fund firm Third Point, explained that short selling is much more challenging today than it has been historically.

“Fundamental analysis is increasingly taking a back seat to monitoring daily option expiries and Reddit message boards, as evidenced by the numerous short squeezes and manipulations of heavily shorted stocks such as AMC and GameStop in 2021 and others this year,” he wrote. “While we have not abandoned short selling, we continue to reduce our single-name short exposure in favor of market hedges and short baskets.”

LaDuc explained that in June and July hedge funds aggressively covered shorts in global equities, and also noted the trend of FOMO, or fear of missing out.

“We have had the largest six-month increase in leverage on record (according to Goldman), with a clear case of FOMO-the-MOMO [momentum] chase in full view as concentration risk in megacap tech forced a NASDAQ “SPECIAL REBALANCE” to ‘down-weight’ AAPL, MSFT, GOOGL etc.”

Short covering occurs when a person with a short position buys back the shares, ending the short trade, and returns the shares to the seller. With this strategy, the short seller aims to cover after the share price falls and make a profit. They may also cover if the price goes up to limit their losses.

Last week LaDuc told MarketWatch how she was able to anticipate a Tupperware stock spike despite a dearth of traditional market-moving news around the name.

Tupperware’s stock has continued its upward trajectory, rocketing again on Tuesday. The stock eventually ended Tuesday’s session up 26% at $5.38, with LaDuc warning her clients of the risks involved in a parabolic rally. “I suggested to clients it was likely done and to be very cautious if still long because ‘Parabolas are trapped longs that can trigger volatility which can trigger a liquidation event’.”

Shares of Tupperware are down 23.2% Wednesday. Yellow Corp.’s stock, which ended Tuesday’s session up 121.6%, is down 17.3% Wednesday.

With regard to Yellow Corp. LaDuc attributes its recent stock movements to insider and Wall Street manipulation. “Low priced, low-float stocks are VERY easy to push around,” she told MarketWatch.

Bankrupt companies such as Bed Bath & Beyond Inc.
BBBYQ,
+1.46%
have even proven attractive to some investors recently, sparking comparisons with the meme stock phenomenon.

“They are clearly retail investors, largely on the Robinhood
HOOD,
-4.16%
platform, that are readers of Reddit,” Howard Ehrenberg, a bankruptcy and reorganization practice partner at law firm Greenspoon Marder, told MarketWatch last month. “They are people buying on rumor and hoping that by participating in a mass purchase binge, they will make money.”

Hertz Global Holdings Inc.
HTZ,
-1.73%,
which filed for bankruptcy protection in 2020 and exited bankruptcy the following year, also fueled meme-stock comparisons, when mostly retail investors piled into the stock during the bankruptcy process.

Typically in a bankruptcy, shareholders are wiped out as creditors take control of the remaining assets. But those investors were rewarded when the company got a big capital injection and was able to resume trading on an exchange.

The investor behavior around these types of stocks has caught the attention of academics. Victor Ricciardi, visiting finance faculty at Tennessee Tech University and co-author of the new book “Advanced Introduction to Behavioral Finance,” recently described some of the behaviors that can prompt investors to purchase bankrupt stocks.

“Representativeness bias refers to when past performance influences how an individual perceives an investment,” Ricciardi told MarketWatch via email last month. “In particular, a person makes a general assumption about a small sample of information or experience.”

So, for example, if a person made a substantial gain from a previous bankrupt stock they might conclude that all bankrupt stocks result in investment gains, according to Ricciardi. There are also parallels with gambling.

“The notion of the long shot bias is based on the tendency for people to overweight the probability of a long shot bet paying off, especially in horse racing and lotteries,” Ricciardi added. “This is driven by overconfident behavior and dreams of becoming a millionaire overnight.”

Tupperware’s stock has risen 250.6% in the last three months, while Yellow shares have climbed 84.3%.

Tomi Kilgore and Phil van Doorn contributed to this report.

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Robinhood accidentally sold short on a meme stock and lost $57 million

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Robinhood Markets Inc. accidentally sold short on a small stock as it went on a meme-like ride in December, costing the trading app more than the stock’s current market capitalization, executives disclosed Wednesday.

Cosmos Health Inc.
COSM,
+0.80%
shares nearly tripled and experienced record trading volume more than seven times any previous day on Dec. 16, as online traders looking for heavily shorted companies accused exchanges of not allowing them to sell their shares into the updraft. Robinhood
HOOD,
-0.76%
executives admitted Wednesday that their trading app actually became part of the frenzy, and ended up down $57 million because of it.

In an earnings call, Robinhood Chief Executive Vlad Tenev noted a “processing error on a corporate action” that was “really disappointing,” leaving Chief Financial Officer Jason Warnick to spell it out.

“A processing error caused us to sell shares short into the market, and although it was detected quickly, it resulted in a loss of $57 million as we bought back these shares against a rising stock price,” Warnick said.

When Cosmos Health effected a 1-for-25 reverse stock split that Friday morning in December, just hours after announcing its intentions, trading portals did not appear prepared. As MarketWatch reported on the day, TD Ameritrade publicly told Twitter users that the company had not received the newly issued shares to dole out to their clients as the stock spiked. A Charles Schwab Corp.
SCHW,
-0.71%
spokesperson emailed MarketWatch the next week to say that the distributions were all taken care of as of the end of the next business day, a Monday.

The stock gains didn’t last through that Monday, though — after reaching as high as $23.84 on the day that Robinhood was apparently buying, they lost it all in after-hours trading and headed even lower after Cosmos Health announced an equity offering.

Shares closed Wednesday at $5.04, which gives Cosmos Health a market cap of about $53 million, according to FactSet — less than Robinhood executives said they lost on the Dec. 16 trades.

Robinhood shares were up in after-hours trading Wednesday after the trading app reported a fourth-quarter miss, but said the company would seek to buy back shares sold to disgraced cryptocurrency-exchange founder Sam Bankman-Fried and executives would forego $500 million in stock compensation. Robinhood stock has declined 21.8% in the past 12 months, as the S&P 500 index
SPX,
-1.11%
has dropped 8.9%.

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February 8, 2023

Full-Faced Black Hood™ Drops Kanye West As Celebrity Spokesperson

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NEW YORK—In response to the rapper’s recent antisemitic comments during his appearance on conspiracy theorist Alex Jones’ Infowars show, head-covering company Full-Faced Black Hood™ announced Friday it had ended its partnership with Ye, formerly known as Kanye West. “We have taken the decision to terminate Ye’s sponsorship of our face-covering headwear, effective immediately,” said Full-Faced Black Hood™ CEO Greg Cullinan, who added that Ye’s recent rhetoric and actions had been unacceptable and dangerous, violating the values of tolerance and inclusion that a company making black stretchy hoods that completely cover the face take very seriously. “We’ve been a family company for over 75 years, actually having been at the forefront of obscuring the faces of anti-Nazis for decades, and therefore, we can no longer in good conscience work with Mr. West. We hope this sends a powerful message to the world that antisemitism and bigotry have no place in a Full-Faced Black Hood™.” Cullinan added that while company executives strongly condemned Mr. West’s hateful comments, they asked that everyone please note how crystal clear his voice sounded when coming through one of their high-quality full-faced hoods.

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December 2, 2022

A Tesla stock plunge could destroy ‘zombie stocks’ such as GameStop and Peloton, warns equity research firm New Constructs

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Tesla shares could decline dramatically — and that could mean disaster for a number of stocks that have already seen deep share-price cuts, according to equity research firm New Constructs.

The research firm, which uses machine learning and natural language processing to parse corporate filings and model economic earnings, called the stocks in danger “zombie stocks,” and defined them as companies with poor business models that are burning cash at an alarming rate and are at risk of seeing their stock decline to $0 per share.

The research firm estimates there could be some 300 zombie companies across the marketplace.

“The Federal Reserve’s aggressive rate hikes so far in 2022 have ended the era of free money and exposed a worrisome dynamic throughout capital markets: zombie stocks,” wrote New Constructs CEO David Trainer, in a note.

See Now: Tesla earnings are coming, but do record deliveries mask a demand problem?

New Constructs does not define Tesla Inc.
TSLA,
+7.01%
as a “zombie stock,” citing CEO Elon Musk’s ability to raise capital, but does see the electric car manufacturer as a bellwether for the sector. “It shares many of the common characteristics of a zombie stock, such as an outrageous valuation and high cash burn,” wrote Trainer. “We believe Tesla’s unrelenting share price rise over the past three years – where investors completely ignored company fundamentals – inspired the birth of many of today’s zombie stocks.”

Tesla reports its third-quarter results after the closing bell on Oct. 19.

The company’s stock was trading around $220 on Monday, an increase of over 1,000% compared to three years ago. But Trainer feels that Tesla is at risk of falling more than 80% to $25 a share.

Tesla’s Optimus bot: ‘High school science project’ or robotics game changer?

Tesla’s stock has fallen 37.6% in 2022, outpacing the S&P 500 Index’s
SPX,
+2.65%
decline of 22.7%.

“Its valuation remains nosebleed high because the cash flow expectations baked into the stock price are unreasonably optimistic,” Trainer wrote. “Our message to investors is to take profits in Tesla and avoid zombie stocks at all costs.”

New Constructs recently added cloud-based communication company RingCentral Inc.
RNG,
+6.49%
to its list of “zombie” stocks. Other companies on the list are Freshpet Inc.
FRPT,
-2.03%,
Peloton Interactive Inc.
PTON,
+7.04%,
Carvana Co.
CVNA,
+6.30%,
Snap Inc.
SNAP,
+6.01%,
Beyond Meat Inc.
BYND,
+0.64%,
Rivian Automotive Inc.
RIVN,
+6.93%,
DoorDash Inc.
DASH,
+6.15%,
Shake Shack Inc.
SHAK,
+4.01%,
Chewy Inc.
CHWY,
+10.76%,
Uber Technologies Inc.
UBER,
+4.98%,
Robinhood Markets Inc.
HOOD,
+3.24%,
Tilray Brands Inc.
TLRY,
+7.32%,
Affirm Holdings Inc.
AFRM,
+6.72%,
SunRun Inc.
RUN,
+1.70%,
Blue Apron Holdings Inc.
APRN,
+3.26%,
and meme stocks AMC Entertainment Holdings Inc.
AMC,
+6.00%
and GameStop Corp.
GME,
+5.40%.

See Now: RingCentral added to ‘zombie’ stocks list by equity research firm New Constructs

“Investors are now fed up with these kinds of companies, especially amid this year’s stock market volatility,” wrote New Constructs’ Trainer. “If investors start to give up on Tesla and take profits on the stock, which is up over 1,000% over the past three years, that spells terrible news for all of the other zombie stocks that don’t have the cash-raising luxury that Tesla has.”

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October 17, 2022

Tag: HOOD

Robinhood Markets (NASDAQ:HOOD) Coverage Initiated by Analysts at Argus

Robinhood Markets Stock Down 0.1%

Insiders Place Their Bets

Institutional Trading of Robinhood Markets

Key Robinhood Markets News

About Robinhood Markets

Featured Stories

Woman arrested in theft of French bulldog that left victim clinging to hood of car

‘Robin Hood: Prince of Thieves’ With Bill Simmons, Chris Ryan, and Van Lathan

Robinhood buys back shares from the U.S. Marshal Service, originally owned by FTX founder Sam Bankman-Fried

Full-Faced Black Hood™ Drops Kanye West As Celebrity Spokesperson