Robinhood Markets, Inc. $HOOD Stock Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 28.2% in the first quarter, HoldingsChannel reports. The firm owned 1,017,948 shares of the company’s stock after selling 399,866 shares during the period. California Public Employees Retirement System’s holdings in Robinhood Markets were worth $70,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares during the period. State Street Corp boosted its position in shares of Robinhood Markets by 2.7% during the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after buying an additional 875,297 shares during the period. Geode Capital Management LLC grew its holdings in Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after buying an additional 356,902 shares in the last quarter. Morgan Stanley grew its holdings in Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after buying an additional 2,061,832 shares in the last quarter. Finally, Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth approximately $1,202,160,000. Institutional investors own 93.27% of the company’s stock.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HOOD. Barclays lifted their target price on Robinhood Markets from $82.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Loop Capital set a $110.00 price target on Robinhood Markets in a research note on Wednesday, June 17th. Truist Financial lowered their price target on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $118.70.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $99.96 on Monday. The stock has a fifty day moving average price of $94.26 and a two-hundred day moving average price of $88.89. The firm has a market cap of $90.01 billion, a P/E ratio of 48.29, a PEG ratio of 2.11 and a beta of 2.33. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts predict that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $116.17, for a total value of $43,563,750.00. Following the sale, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $43,563,750. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 587,875 shares valued at $62,602,915. Corporate insiders own 13.48% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.