Treasurer of the State of North Carolina Has $4.04 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Treasurer of the State of North Carolina increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 317,018 shares of the company’s stock after purchasing an additional 25,445 shares during the period. Treasurer of the State of North Carolina’s holdings in Robinhood Markets were worth $4,039,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new position in shares of Robinhood Markets during the fourth quarter valued at $26,000. UniSuper Management Pty Ltd acquired a new position in Robinhood Markets in the third quarter valued at about $30,000. Whittier Trust Co. grew its stake in Robinhood Markets by 100.0% during the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after buying an additional 2,317 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $89,000. Finally, International Assets Investment Management LLC raised its stake in shares of Robinhood Markets by 1,174.1% in the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock valued at $93,000 after acquiring an additional 6,751 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Baiju Bhatt sold 157,177 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $16.41, for a total transaction of $2,579,274.57. Following the completion of the transaction, the insider now directly owns 36,045 shares in the company, valued at approximately $591,498.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the transaction, the insider now owns 854,995 shares in the company, valued at approximately $15,244,560.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Baiju Bhatt sold 157,177 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $16.41, for a total transaction of $2,579,274.57. Following the sale, the insider now owns 36,045 shares of the company’s stock, valued at $591,498.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,271,851 shares of company stock valued at $23,234,544 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 2.3 %

Shares of HOOD opened at $20.78 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $22.40. The stock has a market capitalization of $18.26 billion, a P/E ratio of 138.53 and a beta of 1.83. The company has a 50 day moving average of $18.64 and a 200-day moving average of $14.87.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the firm earned ($0.57) earnings per share. The firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of recent analyst reports. KeyCorp raised their price target on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein started coverage on shares of Robinhood Markets in a report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Morgan Stanley upped their price objective on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.75.

Check Out Our Latest Analysis on Robinhood Markets

About Robinhood Markets

(Free Report)

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.

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

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