Arizona State Retirement System Has $7.37 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Arizona State Retirement System raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 177,032 shares of the company's stock after purchasing an additional 21,924 shares during the quarter. Arizona State Retirement System's holdings in Robinhood Markets were worth $7,368,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in HOOD. FMR LLC increased its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Newlands Management Operations LLC increased its stake in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares during the period. Geode Capital Management LLC increased its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares during the period. Renaissance Technologies LLC increased its stake in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after acquiring an additional 52,700 shares during the period. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,364,145 shares of company stock worth $181,837,741. Corporate insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HOOD shares. The Goldman Sachs Group upped their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Mizuho boosted their price target on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. KeyCorp boosted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Compass Point boosted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.29.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $3.71 during trading hours on Wednesday, reaching $103.25. 54,537,635 shares of the company were exchanged, compared to its average volume of 30,643,391. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $104.59. The stock's fifty day moving average is $76.60 and its two-hundred day moving average is $56.58. The company has a market cap of $91.42 billion, a price-to-earnings ratio of 58.67, a P/E/G ratio of 5.14 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.