Robinhood Markets, Inc. $HOOD Shares Sold by California Public Employees Retirement System

Key Points

• CalPERS reduced its Robinhood stake by 28.2% in the first quarter, selling 399,866 shares and leaving it with 1,017,948 shares valued at about $70.5 million.
• Analyst sentiment remains mostly positive, with Goldman Sachs raising its price target to $137 and maintaining a Buy rating, while the broader analyst consensus is a Moderate Buy with an average target of $118.70.
• Robinhood’s stock has seen mixed recent signals: it’s trading above key moving averages and near $99.96, but the company also faced pressure from a Nasdaq-100 selloff, weaker crypto prices, and notable insider selling, including CEO Vladimir Tenev’s 375,000-share sale.

California Public Employees Retirement System trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 28.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,017,948 shares of the company's stock after selling 399,866 shares during the period. California Public Employees Retirement System owned about 0.11% of Robinhood Markets worth $70,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company's stock worth $10,831,756,000 after buying an additional 1,334,443 shares during the last quarter. State Street Corp boosted 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 valued at $3,746,036,000 after acquiring an additional 875,297 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company's stock valued at $2,386,944,000 after acquiring an additional 356,902 shares during the last quarter. Morgan Stanley grew its holdings in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock worth $1,208,335,000 after acquiring an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new position in Robinhood Markets during the 4th quarter worth $1,202,160,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Robinhood Markets

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

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp reiterated an "overweight" rating and issued a $100.00 price target on shares of Robinhood Markets in a research note on Monday, June 1st. Wall Street Zen raised Robinhood Markets from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Piper Sandler reiterated an "overweight" rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. Citigroup reiterated a "market outperform" rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Finally, Needham & Company LLC boosted their price target on Robinhood Markets from $85.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.70.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $99.96 on Monday. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86. The company has a 50-day simple moving average of $94.26 and a 200-day simple moving average of $88.89. The firm has a market capitalization of $90.01 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 2.11 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets's revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the sale, the chief executive officer directly owned 375,000 shares of the company's stock, valued at $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Oluwadara Johnson Treseder sold 3,750 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $117.50, for a total value of $440,625.00. Following the completion of the sale, the director directly owned 72,442 shares in the company, valued at $8,511,935. This represents a 4.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 587,875 shares worth $62,602,915. Company insiders own 13.48% of the company's stock.

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.

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