Robinhood Markets, Inc. $HOOD Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 88.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,115 shares of the company’s stock after buying an additional 29,083 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Robinhood Markets were worth $5,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HOOD. Vanguard Group Inc. raised its position in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. WCM Investment Management LLC increased its stake in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets in the second quarter valued at $951,479,000. AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after buying an additional 131,620 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. KeyCorp upped their price objective on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Cantor Fitzgerald upped their price target on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Bank of America lifted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, JMP Securities raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $131.93 on Wednesday. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The firm has a market capitalization of $117.24 billion, a P/E ratio of 54.74, a PEG ratio of 3.17 and a beta of 2.42. The company’s fifty day moving average is $131.37 and its two-hundred day moving average is $101.53.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the transaction, the chief technology officer directly owned 6,088 shares of the company’s stock, valued at $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,715,742 shares of company stock worth $574,788,553. 19.95% of the stock is currently owned by company insiders.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.