Public Employees Retirement System of Ohio reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 4.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 250,977 shares of the company’s stock after selling 10,426 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Robinhood Markets were worth $17,393,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. State Street Corp boosted its position in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $1,202,160,000. Corient Private Wealth LLC increased its holdings in 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 valued at $289,519,000 after purchasing an additional 2,511,743 shares during the last quarter. Jennison Associates LLC increased its holdings in Robinhood Markets by 95.7% in the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock valued at $499,001,000 after purchasing an additional 2,157,372 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after buying an additional 2,061,832 shares during the period. 93.27% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on HOOD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $95.00 to $124.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Mizuho upped their price objective on shares of Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $122.22.
Robinhood Markets Trading Down 6.6%
Shares of HOOD stock opened at $94.91 on Friday. The firm’s fifty day moving average price is $96.52 and its two-hundred day moving average price is $88.61. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The firm has a market capitalization of $85.47 billion, a P/E ratio of 45.85, a PEG ratio of 2.00 and a beta of 2.33.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly 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). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.
Insider Buying and Selling at Robinhood Markets
In related news, Director Paula Loop sold 8,336 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $120.00, for a total value of $1,000,320.00. Following the transaction, the director owned 63,674 shares in the company, valued at approximately $7,640,880. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Johnson Treseder sold 3,750 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $117.50, for a total transaction of $440,625.00. Following the completion of the transaction, the director directly owned 72,442 shares in the company, valued at approximately $8,511,935. This represents a 4.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company’s stock.
Robinhood Markets News Roundup
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
- Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
- Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
- Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
- Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
- Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
- Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market
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.
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