Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,840 shares of the company’s stock after buying an additional 13,944 shares during the period. Public Sector Pension Investment Board’s holdings in Robinhood Markets were worth $1,563,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Angeles Wealth Management LLC increased its position in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC boosted its stake in Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Commerce Bank raised its position in shares of Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after buying an additional 917 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of Robinhood Markets by 25.8% in the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after buying an additional 1,194 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, KeyCorp upped their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Hold” and an average price target of $23.63.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,204,096 shares of company stock worth $23,603,793. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 2.0 %

NASDAQ:HOOD opened at $23.42 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88. The stock’s fifty day moving average is $20.49 and its two-hundred day moving average is $20.25. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 156.13 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

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.