Teacher Retirement System of Texas Boosts Stake in Robinhood Markets, Inc. $HOOD

Teacher Retirement System of Texas raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,043 shares of the company’s stock after acquiring an additional 21,549 shares during the period. Teacher Retirement System of Texas’ holdings in Robinhood Markets were worth $10,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. True Vision MN LLC raised its stake in Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock valued at $642,000 after acquiring an additional 116 shares during the last quarter. Forum Financial Management LP raised its stake in Robinhood Markets by 0.8% during the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after acquiring an additional 134 shares during the last quarter. Hemington Wealth Management raised its stake in Robinhood Markets by 22.5% during the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after acquiring an additional 143 shares during the last quarter. Ballentine Partners LLC raised its stake in Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after acquiring an additional 148 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock valued at $49,000 after acquiring an additional 160 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the subject of several analyst reports. Loop Capital set a $161.00 price objective on Robinhood Markets in a research note on Monday. CICC Research initiated coverage on Robinhood Markets in a research note on Monday. They set an “outperform” rating and a $155.00 price objective for the company. Needham & Company LLC boosted their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.85.

Robinhood Markets Trading Down 1.0%

NASDAQ HOOD opened at $144.80 on Thursday. The business’s 50 day moving average is $125.59 and its two-hundred day moving average is $95.22. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The stock has a market capitalization of $128.68 billion, a price-to-earnings ratio of 73.50, a PEG ratio of 3.80 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

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, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,181,462 shares of company stock worth $580,640,910. 14.47% of the stock is owned by 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.