Illinois Municipal Retirement Fund Boosts Stake in Robinhood Markets, Inc. $HOOD

Key Points

• Illinois Municipal Retirement Fund increased its Robinhood stake by 19.3% in the first quarter, bringing its holdings to 74,122 shares valued at about $5.14 million.
• Several other institutional investors also boosted or initiated positions, and institutions now own 93.27% of Robinhood’s stock, highlighting strong professional interest in the company.
• Robinhood’s latest earnings topped revenue growth expectations year over year but missed estimates on both EPS and revenue, while analysts remain generally constructive with a Moderate Buy consensus and an average price target of $118.70.

Illinois Municipal Retirement Fund grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,122 shares of the company's stock after purchasing an additional 11,966 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Robinhood Markets were worth $5,137,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Empowered Funds LLC raised its holdings in shares of Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company's stock valued at $2,076,000 after buying an additional 15,885 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Robinhood Markets during the second quarter valued at approximately $5,105,000. Federated Hermes Inc. raised its position in Robinhood Markets by 106.2% during the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company's stock valued at $5,988,000 after buying an additional 32,933 shares during the period. NewEdge Advisors LLC lifted its position in Robinhood Markets by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company's stock worth $8,396,000 after buying an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth about $1,316,000. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the business's stock in a transaction on 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 owned 375,000 shares of the company's stock, valued at $43,563,750. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the transaction, the insider owned 481,396 shares of the company's stock, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. 13.48% of the stock is owned by company insiders.

Robinhood Markets Stock Down 5.7%

Shares of HOOD opened at $99.96 on Friday. The stock's 50-day moving average price is $94.26 and its 200 day moving average price is $89.09. The firm has a market capitalization of $90.01 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 2.11 and a beta of 2.33. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Robinhood Markets from $95.00 to $124.00 and gave the company an "equal weight" rating in a report on Friday, July 10th. Keefe, Bruyette & Woods cut their price target on Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Sanford C. Bernstein restated an "outperform" rating and issued a $130.00 price objective on shares of Robinhood Markets in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.70.

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?

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.

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