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

Maryland State Retirement & Pension System cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,406 shares of the company's stock after selling 5,351 shares during the period. Maryland State Retirement & Pension System's holdings in Robinhood Markets were worth $1,307,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HOOD. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. Newlands Management Operations LLC increased its position in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Two Sigma Advisers LP raised its stake in Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after purchasing an additional 52,700 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.72 during trading hours on Thursday, hitting $109.34. The stock had a trading volume of 23,217,413 shares, compared to its average volume of 41,727,441. The stock's fifty day simple moving average is $93.81 and its 200 day simple moving average is $65.27. The firm has a market capitalization of $97.17 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 4.35 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results 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 the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock worth $430,085,957 in the last 90 days. Corporate insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup upped their price target on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Mizuho lifted their target price on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Morgan Stanley upped their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

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.