Robinhood Markets, Inc. (NASDAQ:HOOD) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 500,900 shares of the company’s stock after selling 65,464 shares during the period. New York State Common Retirement Fund’s holdings in Robinhood Markets were worth $6,381,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HOOD. DekaBank Deutsche Girozentrale increased its holdings in shares of Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Robinhood Markets by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock worth $2,860,000 after purchasing an additional 1,480 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Robinhood Markets by 6.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 23,591 shares of the company’s stock valued at $301,000 after purchasing an additional 1,494 shares during the period. Axxcess Wealth Management LLC raised its position in Robinhood Markets by 7.9% in the third quarter. Axxcess Wealth Management LLC now owns 21,998 shares of the company’s stock worth $216,000 after purchasing an additional 1,606 shares in the last quarter. Finally, FDx Advisors Inc. grew its stake in Robinhood Markets by 8.5% during the third quarter. FDx Advisors Inc. now owns 21,570 shares of the company’s stock worth $212,000 after buying an additional 1,698 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Morgan Stanley increased 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 note on Tuesday, April 9th. Piper Sandler lifted their target price on Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Finally, Citigroup downgraded Robinhood Markets from a “neutral” rating to a “sell” rating and increased their price objective for the company from $13.00 to $16.00 in a report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and an average target price of $18.88.

Robinhood Markets Price Performance

Shares of HOOD opened at $17.95 on Friday. The firm has a market capitalization of $15.70 billion, a PE ratio of -29.92 and a beta of 1.74. The company’s 50-day moving average is $17.63 and its 200-day moving average is $13.13. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share 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 firm had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same period in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 23.9% on a year-over-year basis. Analysts predict that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $2,652,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s 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 $132,625.00. Following the transaction, the insider now directly owns 738,291 shares in the company, valued at $7,833,267.51. The disclosure for this sale can be found here. Insiders sold 2,413,026 shares of company stock worth $37,007,017 in the last ninety days. 20.81% of the stock is owned by company insiders.

About Robinhood Markets

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.