Arizona State Retirement System Boosts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Arizona State Retirement System raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,769 shares of the company’s stock after purchasing an additional 1,108 shares during the quarter. Arizona State Retirement System’s holdings in Robinhood Markets were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOOD. Ribbit Capital GP II Ltd. purchased a new stake in Robinhood Markets in the fourth quarter valued at $470,317,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Robinhood Markets by 227.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,982,340 shares of the company’s stock valued at $266,086,000 after purchasing an additional 10,405,975 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Robinhood Markets by 217.1% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 14,512,501 shares of the company’s stock worth $262,676,000 after acquiring an additional 9,936,136 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Robinhood Markets by 27.3% during the 1st quarter. ARK Investment Management LLC now owns 30,353,313 shares of the company’s stock worth $410,073,000 after acquiring an additional 6,505,389 shares in the last quarter. Finally, Ribbit Capital GP III Ltd. purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $80,888,000. 64.46% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 11.7 %

HOOD stock opened at $10.31 on Thursday. The company has a market cap of $8.99 billion and a price-to-earnings ratio of -0.94. Robinhood Markets, Inc. has a 12 month low of $6.81 and a 12 month high of $85.00. The firm has a 50-day moving average of $8.59 and a two-hundred day moving average of $10.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HOOD shares. Morgan Stanley lowered their target price on shares of Robinhood Markets from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Robinhood Markets from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, July 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $11.50 to $9.50 in a research note on Monday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of Robinhood Markets from $11.00 to $7.00 in a research note on Tuesday, June 14th. Finally, KeyCorp reduced their price target on shares of Robinhood Markets from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.19.

Insider Activity

In other news, CEO Vladimir Tenev sold 118,142 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $9.10, for a total value of $1,075,092.20. Following the completion of the sale, the chief executive officer now owns 1,383,006 shares of the company’s stock, valued at approximately $12,585,354.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Vladimir Tenev sold 118,142 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $9.10, for a total value of $1,075,092.20. Following the completion of the sale, the chief executive officer now owns 1,383,006 shares of the company’s stock, valued at approximately $12,585,354.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott D. Sandell sold 8,792 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $8.41, for a total transaction of $73,940.72. The disclosure for this sale can be found here. Insiders sold a total of 332,249 shares of company stock valued at $3,038,560 in the last 90 days.

Robinhood Markets Profile

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Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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