Teacher Retirement System of Texas Makes New $3.73 Million Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Teacher Retirement System of Texas acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 89,494 shares of the company's stock, valued at approximately $3,725,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC boosted its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares in the last quarter. Colonial Trust Co SC acquired a new stake in Robinhood Markets during the fourth quarter worth $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Trading Up 3.6%

Shares of HOOD traded up $3.27 during mid-day trading on Wednesday, hitting $94.54. 42,070,957 shares of the company traded hands, compared to its average volume of 29,857,080. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $100.88. The business has a 50-day moving average of $70.54 and a 200 day moving average of $54.21. The stock has a market capitalization of $83.71 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 4.75 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period last year, the company earned $0.18 earnings per share. Robinhood Markets's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In related news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the sale, the director directly owned 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,466,838 shares of company stock valued at $178,848,489 in the last 90 days. 19.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.71.

Robinhood Markets Company 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.