Streetbeat News

HOOD

Robinhood Markets, Inc.

Industry

Software - Infrastructure

Robinhood Markets, Inc. operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade. Robinhood Markets, Inc. was incorporated in 2013 and is headquartered in Menlo Park, California.

Open

31.89

Mkt cap

29B

Volume

14M

High

32.35

P/E Ratio

55.72

52-wk high

34.32

Low

31.26

Div yield

N/A

52-wk low

7.92

Financial stocks are trading lower due to overall market weakness and comments from New York Fed President Williams indicating that the central bank is not considering rate cuts at the moment.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 8:22 pm

Shares of Robinhood Markets are up following the release of their November operating data. The positive market reaction suggests that the data may have exceeded investor expectations or showed significant improvement in the company's operations.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:08 pm

Robinhood Markets Inc (NASDAQ:HOOD) reported an increase in net cumulative funded accounts to 23.3 million in November, up from October. Assets under custody grew to $94.4 billion, a 12% increase, with $1.4 billion in net deposits for the month. Equity and options trading volumes were stable, while crypto trading volumes surged by 74%. Margin balances decreased by 3%, and cash sweep balances rose by 9%. Analysts' sentiment is mixed, with an average price target of $13.93. HOOD stock was up 2.42% at $12.28.

Portfolio Pulse from Adam Eckert

December 14, 2023 | 2:02 pm

Insiders at DocuSign, Best Buy, Robinhood Markets, and Verizon Communications have recently sold shares of their companies. DocuSign's insider sold shares after a reported revenue increase, while Best Buy's insider sold post upbeat earnings but with lowered future guidance. Robinhood's CEO sold shares as the company expands its crypto trading service in the EU. Verizon's insider sold shares amidst the launch of a streaming bundle partnership with Netflix and Warner Bros. Discovery Max.

Portfolio Pulse from Avi Kapoor

December 14, 2023 | 12:59 pm

Robinhood Markets reported that trading volumes in November were similar to October 2023 for equities and options, but higher for cryptocurrencies. The company also saw an increase in Net Cumulative Funded Accounts (NCFA), reaching 23.3 million by the end of November, which is an increase of about 20 thousand from the previous month.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:08 pm

Needham analyst John Todaro has a Buy rating on Coinbase (COIN) with a price target of $160 and a Hold rating on Robinhood (HOOD). His survey of financial advisors and users suggests that while most advisors would prefer a bitcoin ETF for their clients, there is currently limited interest unless bitcoin prices rise. The survey also indicates that an ETF is unlikely to significantly attract new capital or affect Coinbase's trading business, as most bitcoin owners prefer crypto platforms. COIN shares were up 5.56%, while HOOD shares rose 2.45%.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 8:35 pm

Retail investing has surged in 2023, with a significant number of new brokerage accounts opened since 2020. Despite a drop in users for platforms like Robinhood, many investors have moved to brokers like Fidelity and Charles Schwab. Retail trading volume hit a record $1.51 billion daily in February 2023. Public's data shows retail investors diversifying into ETFs and fixed-income assets, with ProShares UltraPro Short QQQ ETF, ProShares UltraPro QQQ, and SPDR S&P 500 ETF Trust being the top traded ETFs.

Portfolio Pulse from Natan Ponieman

December 12, 2023 | 7:20 pm

Benzinga's options activity scanner has identified significant whale activity in the Financials sector, with notable options trades on several US-listed companies. The trades include both bullish and bearish sentiments, with varying expiration dates and strike prices. The activity suggests that large investors are making strategic bets on these financial stocks, which could indicate their expectations for market movements.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 5:35 pm

Insiders at Robinhood, Kinder Morgan, Airbnb, and Qorvo have recently sold shares of their companies. Robinhood's Chief Legal Officer sold shares amid the company's expansion in the EU for cryptocurrency trading. Kinder Morgan's VP and Chief Admin. Officer sold shares after the company disclosed positive financial forecasts for 2024. Airbnb's CEO sold shares following a strong Q3 report but a weak Q4 forecast. Qorvo's SVP of High Performance Analog sold shares after the company reported upbeat Q2 earnings.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 12:40 pm

Ark Invest, led by Cathie Wood, sold approximately $2.9 million worth of Grayscale Bitcoin Trust (GBTC) shares amid crypto market volatility. The sale occurred through the ARK Next Generation Internet ETF (ARKW) as Bitcoin and Ethereum experienced mixed performance. Ark also sold shares of Robinhood Markets Inc (HOOD) through ARK Innovation ETF (ARKF). Additionally, Ark made significant purchases in the healthcare and tech sectors, including Adaptive Biotechnologies (ADPT) and Accolade Inc (ACCD) through ARK Genomic Revolution ETF (ARKG), and investments in Trade Desk Inc (TTD), PagerDuty Inc (PD), and Iridium Communications Inc (IRDM) through multiple ETFs.

Portfolio Pulse from Benzinga Neuro

December 08, 2023 | 3:10 am

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