Robinhood Markets, Inc. (NASDAQ:HOOD) Position Reduced by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 465,530 shares of the company’s stock after selling 35,550 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.05% of Robinhood Markets worth $9,371,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HOOD. Spire Wealth Management purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. lifted its position in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter worth approximately $34,000. Whittier Trust Co. lifted its position in shares of Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $89,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. Keefe, Bruyette & Woods began coverage on Robinhood Markets in a report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective on the stock. Barclays increased their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, July 10th. Finally, KeyCorp increased their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and a consensus target price of $21.23.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.93, for a total value of $4,482,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.93, for a total value of $4,482,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the chief financial officer now directly owns 997,407 shares of the company’s stock, valued at $16,676,645.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,597,802 shares of company stock valued at $32,145,874. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Up 2.5 %

Shares of HOOD stock opened at $23.41 on Friday. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $24.88. The business’s 50 day moving average is $21.75 and its two-hundred day moving average is $17.50. The company has a market cap of $20.57 billion, a PE ratio of 156.07 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the company posted ($0.57) earnings per share. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.55 EPS for the current fiscal year.

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.