Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 31,406 shares of the company's stock after selling 5,351 shares during the quarter. Maryland State Retirement & Pension System's holdings in Robinhood Markets were worth $1,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares in the last quarter. Allworth Financial LP increased its stake in shares of Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after purchasing an additional 266 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in shares of Robinhood Markets by 0.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock valued at $1,520,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Compass Point lifted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Barclays lifted their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Redburn Atlantic restated a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Needham & Company LLC lifted their price target on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $96.29.

Robinhood Markets Stock Performance

HOOD opened at $114.63 on Monday. Robinhood Markets, Inc. has a one year low of $17.55 and a one year high of $117.00. The stock has a market capitalization of $101.87 billion, a PE ratio of 58.19, a P/E/G ratio of 4.37 and a beta of 2.36. The business's 50 day moving average price is $91.32 and its 200 day moving average price is $64.19.

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

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,752,293 shares of company stock valued at $436,586,556. 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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

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.