National Pension Service Invests $35.35 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• The National Pension Service has invested approximately $35.35 million in Robinhood Markets by acquiring 849,330 shares during the first quarter.
• Several investment firms have significantly increased their stakes in Robinhood, with institutional investors now holding 93.27% of the company's stock.
• Analysts have raised their price targets for Robinhood Markets, with the consensus now set at $100.31 and a rating of "Moderate Buy".

National Pension Service purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 849,330 shares of the company's stock, valued at approximately $35,349,000. National Pension Service owned approximately 0.10% of Robinhood Markets as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC grew its stake in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management boosted its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new position in Robinhood Markets during the first quarter valued at about $30,000. Pandora Wealth Inc. bought a new position in Robinhood Markets during the first quarter valued at about $33,000. Finally, CoreCap Advisors LLC boosted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. Barclays raised their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC raised their target price on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Compass Point raised their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Piper Sandler raised their target price on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Robinhood Markets Price Performance

Shares of HOOD opened at $114.17 on Friday. The company has a market capitalization of $101.46 billion, a price-to-earnings ratio of 57.95, a P/E/G ratio of 4.22 and a beta of 2.36. The business's 50-day moving average is $95.36 and its 200-day moving average is $66.15. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates 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 business earned $0.21 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the transaction, the insider owned 566,887 shares in the company, valued at $59,086,632.01. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the transaction, the chief technology officer directly owned 3,044 shares in the company, valued at approximately $318,798.12. The trade was a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $430,085,957 in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.