California Public Employees Retirement System Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

California Public Employees Retirement System lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 939,802 shares of the company’s stock after selling 69,790 shares during the quarter. California Public Employees Retirement System owned 0.11% of Robinhood Markets worth $11,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Robinhood Markets by 61.1% during the 3rd quarter. CWM LLC now owns 8,488 shares of the company’s stock worth $83,000 after acquiring an additional 3,219 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Robinhood Markets by 174.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock valued at $114,000 after buying an additional 7,387 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Robinhood Markets by 2,933.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 174,819 shares of the company’s stock valued at $1,715,000 after buying an additional 169,056 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at $1,209,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at $231,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 154,160 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $17.61, for a total value of $2,714,757.60. Following the sale, the director now directly owns 36,045 shares in the company, valued at approximately $634,752.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Baiju Bhatt sold 154,160 shares of Robinhood Markets stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $17.61, for a total transaction of $2,714,757.60. Following the completion of the transaction, the director now directly owns 36,045 shares of the company’s stock, valued at approximately $634,752.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,382,977 shares of company stock worth $36,496,582 in the last three months. Insiders own 20.81% of the company’s stock.

Robinhood Markets Stock Up 1.0 %

Robinhood Markets stock opened at $16.65 on Thursday. The company’s 50-day moving average price is $17.50 and its 200-day moving average price is $13.07. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $20.55. The company has a market cap of $14.56 billion, a PE ratio of -27.75 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same period in the previous year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HOOD. Piper Sandler lifted their target price on shares of Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods began coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Barclays lifted their target price on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and a consensus price target of $18.88.

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.