California Public Employees Retirement System Decreases Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

California Public Employees Retirement System trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 939,802 shares of the company’s stock after selling 69,790 shares during the quarter. California Public Employees Retirement System’s holdings in Robinhood Markets were worth $11,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Robinhood Markets by 15.5% in the third quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company’s stock valued at $23,738,000 after buying an additional 325,506 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $131,000. Quantbot Technologies LP raised its position in shares of Robinhood Markets by 583.1% in the third quarter. Quantbot Technologies LP now owns 132,612 shares of the company’s stock valued at $1,301,000 after buying an additional 113,199 shares during the last quarter. Gulf International Bank UK Ltd acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $764,000. Finally, Deutsche Bank AG raised its position in shares of Robinhood Markets by 674.6% in the third quarter. Deutsche Bank AG now owns 373,183 shares of the company’s stock valued at $3,661,000 after buying an additional 325,007 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the transaction, the insider now owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the transaction, the insider now owns 738,291 shares in the company, valued at $7,833,267.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $2,652,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,382,977 shares of company stock valued at $36,496,582. 20.81% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $16.65 on Thursday. The firm has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $13.07. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $20.55. The stock has a market cap of $14.56 billion, a PE ratio of -27.75 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same quarter last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. KeyCorp raised their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $13.00 to $16.00 in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and a consensus price target of $18.88.

Robinhood Markets 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.