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

Illinois Municipal Retirement Fund boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 88.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,115 shares of the company’s stock after acquiring an additional 29,083 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Robinhood Markets were worth $5,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its holdings in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the second quarter valued at about $951,479,000. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. lifted its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Finally, Wealthquest Corp acquired a new stake in Robinhood Markets in the 1st quarter valued at approximately $156,193,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the transaction, the insider directly owned 540,949 shares of the company’s stock, valued at $78,951,506.55. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,715,742 shares of company stock valued at $574,788,553 over the last 90 days. Insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Robinhood Markets Trading Down 2.9%

Robinhood Markets stock opened at $131.93 on Wednesday. The company has a fifty day simple moving average of $131.37 and a 200-day simple moving average of $101.53. The stock has a market cap of $117.24 billion, a P/E ratio of 54.74, a price-to-earnings-growth ratio of 3.17 and a beta of 2.42. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

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

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.