Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,177 shares of the company’s stock after purchasing an additional 32,483 shares during the period. Arizona State Retirement System’s holdings in Robinhood Markets were worth $3,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. Spire Wealth Management purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $40,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 3.8 %

NASDAQ:HOOD opened at $19.66 on Tuesday. The firm’s fifty day simple moving average is $20.68 and its 200 day simple moving average is $19.63. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.88. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 131.07 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period last year, the company posted $0.03 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. On average, analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 121,226 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total value of $2,622,118.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Baiju Bhatt sold 121,226 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,185,406 shares of company stock worth $23,490,554. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HOOD shares. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Thursday, August 15th. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Morgan Stanley upped their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.83.

Robinhood Markets Company 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.