California Public Employees Retirement System Has $118.09 Million Position in Robinhood Markets, Inc. $HOOD

California Public Employees Retirement System lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,261,185 shares of the company’s stock after buying an additional 186,687 shares during the quarter. California Public Employees Retirement System’s holdings in Robinhood Markets were worth $118,085,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Smithfield Trust Co acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $29,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets during the first quarter worth approximately $33,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $36,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 49,942 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares in the company, valued at $7,147,150.40. This represents a 47.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The SEC filing for this sale provides additional information. Insiders have sold 4,099,236 shares of company stock valued at $525,040,481 in the last three months. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 3.7%

HOOD stock opened at $131.95 on Monday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The business has a 50-day simple moving average of $133.29 and a 200 day simple moving average of $110.06. The company has a market cap of $118.65 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 2.97 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last released its 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HOOD. KeyCorp upped their price objective on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Citigroup upped their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Robinhood Markets in a research report on Friday. Barclays lifted their price objective on shares of Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Compass Point restated a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.