Louisiana State Employees Retirement System Purchases New Position in Robinhood Markets, Inc. $HOOD

Key Points

• Louisiana State Employees Retirement System opened a new position in Robinhood Markets during the first quarter, buying 40,300 shares worth about $2.79 million.
• Robinhood continues to draw heavy institutional interest, with firms like Vanguard, State Street, Geode Capital, Morgan Stanley, and Norges Bank all holding significant stakes; overall, institutional investors own 93.27% of the stock.
• Analysts remain broadly positive on HOOD, with a consensus rating of Moderate Buy and an average price target of $113.68, though recent earnings showed revenue and EPS slightly below expectations.

Louisiana State Employees Retirement System acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,300 shares of the company's stock, valued at approximately $2,793,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company's stock valued at $10,831,756,000 after buying an additional 1,334,443 shares in the last quarter. State Street Corp raised its stake in Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company's stock worth $3,746,036,000 after buying an additional 875,297 shares during the period. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company's stock worth $2,386,944,000 after acquiring an additional 356,902 shares in the last quarter. Morgan Stanley grew its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares during the period. Finally, Norges Bank bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $1,202,160,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HOOD. Mizuho lifted their price objective on Robinhood Markets from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Argus lifted their price target on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Barclays lowered their price objective on shares of Robinhood Markets from $89.00 to $82.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday. Finally, Wall Street Zen raised Robinhood Markets from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 13th. Nineteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.68.

Robinhood Markets Stock Performance

Shares of HOOD opened at $98.69 on Monday. The stock has a market capitalization of $88.87 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 2.32 and a beta of 2.35. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The firm has a fifty day simple moving average of $85.85 and a 200 day simple moving average of $90.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.37 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.81 earnings per share for the current fiscal year.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: BTIG initiated coverage on Robinhood with a Buy rating and a $125 price target, saying the company has a long runway for asset growth, customer engagement, and product expansion. The new bullish call is likely helping sentiment. Article Title
• Positive Sentiment: Robinhood closed its $2.2 billion offering of 0.00% convertible senior notes due 2029, giving it more financial flexibility. Management also said capped calls and a share repurchase mean the deal should limit dilution unless the stock rises much further, which may reassure investors. Article Title
• Positive Sentiment: Robinhood is also promoting growth through customer perks, including World Cup ticket giveaways to boost its Gold subscriber base, suggesting continued efforts to deepen engagement and subscription revenue. Article Title
• Neutral Sentiment: Robinhood is attracting investor attention as a high-yield ETF idea and continues to appear in market roundups, but these items are more about trading interest than a direct business catalyst. Article Title
• Neutral Sentiment: A comparison piece on SCHW vs. HOOD frames Robinhood as a value debate rather than providing a new company-specific catalyst. Article Title
• Negative Sentiment: Robinhood previously fell after reports that Meta is developing a competing prediction-markets app, raising concerns about future competition in one of Robinhood’s newer growth areas. Article Title

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the transaction, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the purchase, the director owned 3,924,427 shares of the company's stock, valued at $316,858,235.98. This represents a 6.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Profile

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.