Robinhood Markets, Inc. $HOOD Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 527,770 shares of the company’s stock after acquiring an additional 129,488 shares during the period. New York State Common Retirement Fund owned 0.06% of Robinhood Markets worth $49,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HOOD. Avantax Advisory Services Inc. raised its holdings in Robinhood Markets by 29.7% during the first quarter. Avantax Advisory Services Inc. now owns 24,799 shares of the company’s stock worth $1,032,000 after purchasing an additional 5,678 shares in the last quarter. LPL Financial LLC increased its position in shares of Robinhood Markets by 58.8% during the 1st quarter. LPL Financial LLC now owns 478,131 shares of the company’s stock valued at $19,900,000 after purchasing an additional 176,995 shares during the period. Federated Hermes Inc. increased its position in shares of Robinhood Markets by 2.1% during the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock valued at $1,291,000 after purchasing an additional 638 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Robinhood Markets in the 1st quarter worth $445,000. Finally, Harbour Investments Inc. raised its stake in shares of Robinhood Markets by 731.7% in the 1st quarter. Harbour Investments Inc. now owns 22,257 shares of the company’s stock worth $926,000 after buying an additional 19,581 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $128.55 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The firm’s 50 day simple moving average is $132.70 and its 200-day simple moving average is $107.37. The company has a market cap of $115.59 billion, a P/E ratio of 53.34, a price-to-earnings-growth ratio of 2.89 and a beta of 2.42.

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

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the sale, the chief technology officer owned 6,088 shares of the company’s stock, valued at $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 48,350 shares of Robinhood Markets stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total value of $6,798,493.50. Following the transaction, the insider owned 70,279 shares in the company, valued at $9,881,930.19. This represents a 40.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,970,272 shares of company stock worth $505,742,993 over the last three months. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. Barclays raised their target price on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, November 6th. Morgan Stanley increased their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, JMP Securities upped their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $136.95.

Robinhood Markets Company Profile

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.