State of New Jersey Common Pension Fund D Acquires 37,361 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in Robinhood Markets by 17.7%, acquiring an additional 37,361 shares to reach a total of 248,273 shares valued at approximately $23.2 million.
• Several institutional investors, including True Vision MN LLC and REAP Financial Group LLC, also adjusted their positions in Robinhood Markets, reflecting a growing interest from institutional investors, who now own 93.27% of the stock.
• Robinhood's stock performance shows a 12-month high of $153.86 and a 12-month low of $23.00, with analysts currently maintaining an average rating of "Moderate Buy" and a consensus price target of $118.94.

State of New Jersey Common Pension Fund D lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 17.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 248,273 shares of the company's stock after acquiring an additional 37,361 shares during the period. State of New Jersey Common Pension Fund D's holdings in Robinhood Markets were worth $23,246,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Vision MN LLC increased its position in shares of Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company's stock worth $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP increased its position in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company's stock valued at $1,685,000 after acquiring an additional 134 shares in the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company's stock valued at $72,000 after acquiring an additional 143 shares in the last quarter. Ballentine Partners LLC increased its position in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock valued at $620,000 after acquiring an additional 148 shares in the last quarter. Finally, REAP Financial Group LLC increased its position in Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after acquiring an additional 160 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HOOD shares. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Mizuho lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Cantor Fitzgerald lifted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.94.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on 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 transaction, the director owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% 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, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,175,598 shares of company stock valued at $579,779,430. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $139.79 on Friday. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The firm's 50 day moving average price is $123.41 and its two-hundred day moving average price is $92.29. The firm has a market cap of $124.23 billion, a P/E ratio of 70.96, a PEG ratio of 3.49 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating 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 firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The business's revenue was up 45.0% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share 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.

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