43,181 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,181 shares of the company's stock, valued at approximately $1,609,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. CoreCap Advisors LLC boosted its stake in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $34,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the sale, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 64,951 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the sale, the director now owns 3,235,585 shares of the company's stock, valued at $160,614,439.40. This trade represents a 1.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,192,688 shares of company stock worth $107,043,646 over the last quarter. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded down $0.88 during trading hours on Wednesday, reaching $65.14. The company's stock had a trading volume of 17,745,478 shares, compared to its average volume of 26,524,226. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $67.13. The company has a market capitalization of $57.68 billion, a P/E ratio of 41.49, a P/E/G ratio of 1.05 and a beta of 2.15. The stock's fifty day simple moving average is $48.62 and its two-hundred day simple moving average is $45.48.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during 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 for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. KeyCorp cut their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $55.41.

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.