California Public Employees Retirement System Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

California Public Employees Retirement System lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074,872 shares of the company's stock after selling 58,279 shares during the period. California Public Employees Retirement System owned about 0.12% of Robinhood Markets worth $40,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HOOD. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Spire Wealth Management lifted its stake in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares in the last quarter. Allworth Financial LP grew its position in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD traded down $3.75 during mid-day trading on Friday, hitting $34.51. 80,274,797 shares of the company's stock were exchanged, compared to its average volume of 22,632,252. The stock's 50-day moving average is $48.15 and its 200-day moving average is $38.93. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. JMP Securities boosted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, February 13th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $60.24.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the transaction, the director now directly owns 5,042 shares of the company's stock, valued at approximately $228,251.34. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock worth $131,897,049 in the last quarter. 19.95% 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.