VIRGINIA RETIREMENT SYSTEMS ET Al Takes $6.92 Million Position in Robinhood Markets, Inc. $HOOD

Key Points

• Virginia Retirement Systems purchased 68,991 Robinhood shares worth approximately $6.92 million in the second quarter. Institutional investors collectively own 93.27% of HOOD’s outstanding stock.
• Robinhood reported quarterly earnings of $0.62 per share, beating estimates of $0.44, while revenue rose 32.5% year over year to $1.31 billion.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $129 price target, although insiders have sold 626,283 shares worth about $69.1 million over the past three months.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 68,991 shares of the company's stock, valued at approximately $6,918,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company's stock valued at $2,076,000 after purchasing an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $5,105,000. Federated Hermes Inc. lifted its stake in Robinhood Markets by 106.2% in the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company's stock valued at $5,988,000 after buying an additional 32,933 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Robinhood Markets by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company's stock worth $8,396,000 after buying an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $1,316,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Gallagher, Jr. sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the completion of the sale, the insider directly owned 509,943 shares in the company, valued at approximately $62,432,321.49. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of Robinhood Markets stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the transaction, the insider directly owned 77,839 shares in the company, valued at $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 626,283 shares of company stock valued at $69,070,083 in the last three months. 13.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. BTIG Research restated a "buy" rating and issued a $125.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. Sanford C. Bernstein restated an "outperform" rating on shares of Robinhood Markets in a report on Tuesday. Scotiabank initiated coverage on shares of Robinhood Markets in a report on Wednesday, September 2nd. They set a "sector outperform" rating and a $136.00 target price for the company. KeyCorp increased their target price on shares of Robinhood Markets from $100.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $155.00 price target on shares of Robinhood Markets in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Prediction-markets expansion: Robinhood announced a multiyear partnership with OG.com, a federally regulated exchange spun out of Crypto.com. OG.com will provide infrastructure and clearing for Robinhood’s event contracts, including football-related markets. Robinhood will also take minority stakes in OG.com and Crypto.com, while adding Crypto.com’s yes-or-no contracts to its platform. The move could expand a rapidly growing business and diversify transaction revenue. Reuters article
• Positive Sentiment: New investment-banking opportunity: Robinhood was named an underwriter for smart-ring maker Oura’s IPO. The role could improve retail-investor access to IPO allocations, strengthen relationships with issuers and create a new fee-based revenue stream beyond brokerage trading. Zacks article
• Positive Sentiment: Analyst support: Cantor Fitzgerald raised its price target to $150 from $115 and maintained an “overweight” rating, citing Robinhood’s growth prospects. Recent coverage has also highlighted strong momentum in prediction markets and related product expansion.
• Neutral Sentiment: Investor attention remains elevated: Robinhood has been among the most searched stocks, following a sharp August rally and recent bullish analyst upgrades. High visibility may support continued buying but also increases the risk of volatile trading.
• Negative Sentiment: Valuation and selling pressure: With shares trading well above their 200-day average and at a high earnings multiple, investors may be taking profits and demanding stronger evidence that prediction markets and investment banking can justify the valuation. Robinhood also reported that some customers were quietly selling, a potential near-term headwind.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $117.34 on Wednesday. The stock's fifty day moving average is $103.48 and its two-hundred day moving average is $88.97. The firm has a market capitalization of $105.50 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 2.50 and a beta of 2.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.42 EPS. The company's revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets, Inc. will post 2.09 earnings per share for the current year.

Robinhood Markets Company Profile

Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.

The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.

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