Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,642 shares of the company’s stock after buying an additional 27,057 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Robinhood Markets were worth $3,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC increased its position in Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Northern Trust Corp increased its position in Robinhood Markets by 37.5% during the third quarter. Northern Trust Corp now owns 3,099,424 shares of the company’s stock worth $30,405,000 after purchasing an additional 845,178 shares during the last quarter. Finally, TB Alternative Assets Ltd. increased its position in Robinhood Markets by 14.9% during the fourth quarter. TB Alternative Assets Ltd. now owns 2,896,500 shares of the company’s stock worth $36,901,000 after purchasing an additional 375,300 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price target for the company. Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and lifted their price target for the company from $13.00 to $16.00 in a research report on Thursday, April 11th. Finally, KeyCorp lifted their price target on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.88.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $17.88 on Friday. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $20.55. The firm has a 50 day simple moving average of $17.38 and a 200-day simple moving average of $12.92. The firm has a market cap of $15.64 billion, a price-to-earnings ratio of -29.80 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The company had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the transaction, the insider now owns 738,291 shares in the company, valued at $7,833,267.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Baiju Bhatt sold 154,160 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $17.61, for a total transaction of $2,714,757.60. Following the completion of the sale, the director now owns 36,045 shares in the company, valued at approximately $634,752.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the sale, the insider now owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The disclosure for this sale can be found here. Insiders sold 2,382,977 shares of company stock worth $36,496,582 over the last 90 days. 20.81% of the stock is owned by insiders.

Robinhood Markets 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.