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

New York State Common Retirement Fund cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500,900 shares of the company’s stock after selling 65,464 shares during the period. New York State Common Retirement Fund owned 0.06% of Robinhood Markets worth $6,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. Exchange Traded Concepts LLC increased its position in Robinhood Markets by 174.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock valued at $114,000 after buying an additional 7,387 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Robinhood Markets by 2,933.5% during the third quarter. Asset Management One Co. Ltd. now owns 174,819 shares of the company’s stock valued at $1,715,000 after acquiring an additional 169,056 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $1,209,000. Robeco Institutional Asset Management B.V. acquired a new stake in Robinhood Markets in the 3rd quarter worth approximately $231,000. Finally, Raymond James & Associates grew its position in Robinhood Markets by 7.0% during the 3rd quarter. Raymond James & Associates now owns 31,847 shares of the company’s stock worth $312,000 after purchasing an additional 2,070 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Baiju Bhatt sold 188,077 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89. Following the transaction, the insider now owns 36,045 shares in the company, valued at approximately $489,130.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89. Following the completion of the transaction, the insider now directly owns 36,045 shares in the company, valued at $489,130.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The disclosure for this sale can be found here. Insiders have sold 2,413,026 shares of company stock valued at $37,007,017 over the last ninety days. Insiders own 20.81% of the company’s stock.

Robinhood Markets Stock Up 1.9 %

HOOD opened at $17.95 on Friday. The firm’s fifty day simple moving average is $17.63 and its two-hundred day simple moving average is $13.13. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $20.55. The company has a market cap of $15.70 billion, a price-to-earnings ratio of -29.92 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $454.73 million. During the same period last year, the company posted ($0.19) EPS. Robinhood Markets’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HOOD. Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Piper Sandler increased their price objective on Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Barclays increased their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a report on Monday, April 8th. Finally, Sanford C. Bernstein assumed coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They set an “outperform” rating and a $30.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.