Utah Retirement Systems Boosts Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Utah Retirement Systems lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,904 shares of the company's stock after buying an additional 11,504 shares during the period. Utah Retirement Systems' holdings in Robinhood Markets were worth $4,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HOOD. FMR LLC lifted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Renaissance Technologies LLC boosted its position in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Norges Bank acquired a new stake in Robinhood Markets in the fourth quarter valued at $329,598,000. Finally, GQG Partners LLC bought a new stake in Robinhood Markets in the 4th quarter valued at $302,325,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $1.97 during mid-day trading on Friday, hitting $48.59. The stock had a trading volume of 59,084,034 shares, compared to its average volume of 25,809,715. The firm has a market capitalization of $43.02 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm's 50-day moving average is $43.08 and its two-hundred day moving average is $41.66. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares of the company's stock, valued at $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now owns 5,042 shares of the company's stock, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334,593 shares of company stock valued at $114,815,021 over the last 90 days. Insiders own 19.95% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of a number of analyst reports. Citigroup reduced their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price on the stock. in a research note on Tuesday, April 8th. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Compass Point began coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price target for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.24.

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.