California State Teachers Retirement System Sells 17,781 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

California State Teachers Retirement System lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 852,799 shares of the company's stock after selling 17,781 shares during the period. California State Teachers Retirement System owned about 0.10% of Robinhood Markets worth $31,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank bought a new position in Robinhood Markets during the fourth quarter valued at approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets during the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets during the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the period. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on HOOD shares. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded down $1.19 during midday trading on Thursday, reaching $63.95. The stock had a trading volume of 21,286,882 shares, compared to its average volume of 26,517,685. The stock has a 50-day moving average of $49.34 and a 200-day moving average of $45.83. The company has a market capitalization of $56.63 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $67.38.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. 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 418,338 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the sale, the director now owns 7,863 shares of the company's stock, valued at $506,848.98. This trade represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,192,688 shares of company stock valued at $107,043,646. Corporate insiders own 14.47% of the company's stock.

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.