Public Employees Retirement System of Ohio Purchases 30,839 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Robinhood Markets by 13.0%, acquiring an additional 30,839 shares during the second quarter, totaling $25,094,000 in value.
• Director Meyer Malka sold over 1 million shares on August 28th, which reflects a significant 21.57% decrease in his ownership of the company's stock.
• Analysts have varied outlooks on Robinhood, with some firms raising their target prices, predicting a consensus target of $104.06 and a 'Moderate Buy' rating from eleven investment analysts.

Public Employees Retirement System of Ohio lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,012 shares of the company's stock after buying an additional 30,839 shares during the period. Public Employees Retirement System of Ohio's holdings in Robinhood Markets were worth $25,094,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HOOD. Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at $951,479,000. Vanguard Group Inc. boosted its stake in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its stake in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Wealthquest Corp acquired a new position in Robinhood Markets in the 1st quarter worth $156,193,000. Finally, Altimeter Capital Management LP acquired a new position in Robinhood Markets in the 1st quarter worth $120,103,000. Institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In related news, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $124.13, for a total transaction of $727,898.32. Following the completion of the sale, the chief technology officer owned 17,816 shares of the company's stock, valued at $2,211,500.08. This trade represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681,462 shares of company stock worth $581,726,917 in the last three months. Insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. JMP Securities upped their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Morgan Stanley upped their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Needham & Company LLC upped their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Mizuho upped their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $104.06.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $126.80 on Thursday. The firm has a 50-day moving average of $109.90 and a 200-day moving average of $77.57. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $130.07. The company has a market cap of $112.68 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 4.68 and a beta of 2.36.

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

About Robinhood Markets

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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