Maryland State Retirement & Pension System Purchases 4,565 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• The Maryland State Retirement & Pension System increased its stake in Robinhood Markets by 14.5%, owning a total of 35,971 shares valued at $3,368,000.
• Robinhood reported strong quarterly earnings with $0.42 earnings per share, significantly surpassing analysts' expectations of $0.30, alongside a revenue of $989 million.
• Analysts remain optimistic about Robinhood's future, with twelve giving it a Buy rating and a consensus target price of approximately $118.94.

Maryland State Retirement & Pension System increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,971 shares of the company's stock after purchasing an additional 4,565 shares during the quarter. Maryland State Retirement & Pension System's holdings in Robinhood Markets were worth $3,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HOOD. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter worth about $30,000. Pandora Wealth Inc. acquired a new position in Robinhood Markets during the first quarter worth about $33,000. V Square Quantitative Management LLC acquired a new position in Robinhood Markets during the second quarter worth about $36,000. Finally, Colonial Trust Advisors raised its stake in Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research analyst reports. Morgan Stanley boosted their target price on Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 1st. Piper Sandler reissued an "overweight" rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday. Cantor Fitzgerald upped their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Citigroup upped their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $152.46 on Friday. The company has a market capitalization of $135.49 billion, a P/E ratio of 77.39, a P/E/G ratio of 4.19 and a beta of 2.42. The business has a 50 day moving average of $117.92 and a 200-day moving average of $85.18. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681,122 shares of company stock worth $618,215,681. Company insiders own 14.47% of the company's stock.

Robinhood Markets Company 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.

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