Teacher Retirement System of Texas Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Teacher Retirement System of Texas purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 89,494 shares of the company's stock, valued at approximately $3,725,000.

A number of other large investors also recently bought and sold shares of the stock. MetLife Investment Management LLC raised its stake in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the period. Farther Finance Advisors LLC raised its stake in Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares during the period. Blue Trust Inc. raised its stake in Robinhood Markets by 28.6% during the first quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after purchasing an additional 444 shares during the period. Finally, City State Bank raised its stake in Robinhood Markets by 94.0% during the first quarter. City State Bank now owns 970 shares of the company's stock worth $40,000 after purchasing an additional 470 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Christopher D. Payne bought 26,500 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the purchase, the director directly owned 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total transaction of $548,342.64. Following the sale, the chief technology officer directly owned 8,908 shares of the company's stock, valued at approximately $832,987.08. This represents a 39.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock worth $179,396,832 in the last three months. Insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Redburn Atlantic reaffirmed a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Compass Point lifted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.06.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded down $0.36 during midday trading on Friday, hitting $98.34. The company's stock had a trading volume of 59,981,339 shares, compared to its average volume of 30,197,601. The firm's fifty day moving average price is $72.49 and its 200-day moving average price is $54.91. The firm has a market cap of $87.08 billion, a P/E ratio of 55.88, a P/E/G ratio of 4.77 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $101.46.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% on a year-over-year basis. As a group, research analysts predict 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.