Robinhood Markets, Inc. (NASDAQ:HOOD) Stake Cut by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,451 shares of the company's stock after selling 31,178 shares during the period. Public Employees Retirement System of Ohio's holdings in Robinhood Markets were worth $10,152,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC boosted its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Robinhood Markets during the 4th quarter worth $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in Robinhood Markets during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HOOD shares. Morgan Stanley lifted their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC restated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday. Finally, Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 223,528 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares of the company's stock, valued at $217,864.82. This trade represents a 97.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,192,688 shares of company stock valued at $107,043,646. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

HOOD stock traded down $1.19 on Thursday, reaching $63.95. The company's stock had a trading volume of 21,167,339 shares, compared to its average volume of 26,503,218. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $67.38. The company has a market capitalization of $56.63 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The firm has a fifty day moving average of $49.03 and a two-hundred day moving average of $45.62.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.