State Board of Administration of Florida Retirement System Takes $1.03 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

State Board of Administration of Florida Retirement System bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 125,180 shares of the company’s stock, valued at approximately $1,029,000.

Several other institutional investors have also modified their holdings of HOOD. Kestra Advisory Services LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $276,000. Parallel Advisors LLC lifted its stake in shares of Robinhood Markets by 29.2% in the first quarter. Parallel Advisors LLC now owns 4,668 shares of the company’s stock worth $68,000 after buying an additional 1,056 shares in the last quarter. Keybank National Association OH purchased a new position in shares of Robinhood Markets in the first quarter worth about $141,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Robinhood Markets by 332.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 8,227 shares of the company’s stock worth $111,000 after buying an additional 6,324 shares in the last quarter. Finally, National Asset Management Inc. purchased a new position in shares of Robinhood Markets in the first quarter worth about $157,000. Institutional investors and hedge funds own 57.95% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $9.47 on Friday. The company’s 50 day simple moving average is $10.44 and its 200-day simple moving average is $9.64. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of -1.30 and a beta of 1.01. Robinhood Markets, Inc. has a 1 year low of $6.81 and a 1 year high of $32.93.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Robinhood Markets from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 3rd. Mizuho raised their price target on shares of Robinhood Markets from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Robinhood Markets from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday. KeyCorp raised their price target on shares of Robinhood Markets from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, November 3rd. Finally, Atlantic Securities lifted their target price on shares of Robinhood Markets from $5.00 to $7.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.36.

Insider Activity

In other news, CEO Vladimir Tenev sold 29,368 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $11.63, for a total value of $341,549.84. Following the sale, the chief executive officer now directly owns 1,411,270 shares of the company’s stock, valued at approximately $16,413,070.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 29,368 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $11.63, for a total value of $341,549.84. Following the sale, the chief executive officer now directly owns 1,411,270 shares of the company’s stock, valued at approximately $16,413,070.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Baiju Bhatt sold 29,366 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $11.63, for a total transaction of $341,526.58. Following the completion of the sale, the insider now directly owns 399,032 shares in the company, valued at $4,640,742.16. The disclosure for this sale can be found here. Insiders own 15.31% of the company’s stock.

Robinhood Markets Company 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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