Arizona State Retirement System Acquires 3,722 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Arizona State Retirement System raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,108 shares of the company’s stock after acquiring an additional 3,722 shares during the quarter. Arizona State Retirement System’s holdings in Robinhood Markets were worth $5,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HOOD. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the fourth quarter valued at about $26,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter valued at about $30,000. Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the fourth quarter valued at about $37,000. Bogart Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter valued at about $37,000. Finally, Spire Wealth Management increased its holdings in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $44.42 on Friday. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The business has a 50 day simple moving average of $48.93 and a two-hundred day simple moving average of $35.64. The firm has a market capitalization of $39.33 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HOOD shares. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Morgan Stanley lifted their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities lifted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Finally, Sanford C. Bernstein lifted their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,171,641 shares of company stock worth $149,567,157 over the last 90 days. Company insiders own 19.95% of the company’s stock.

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.