California Public Employees Retirement System Sells 58,279 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

California Public Employees Retirement System decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,074,872 shares of the company's stock after selling 58,279 shares during the quarter. California Public Employees Retirement System owned approximately 0.12% of Robinhood Markets worth $40,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in shares of Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after buying an additional 16,219 shares during the last quarter. IFP Advisors Inc boosted its holdings in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after acquiring an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets in the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after acquiring an additional 92,613 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Remove Ads

Robinhood Markets Stock Performance

Shares of HOOD stock traded down $3.75 during mid-day trading on Friday, reaching $34.51. 80,274,797 shares of the company's stock traded hands, compared to its average volume of 22,558,938. The firm has a market capitalization of $30.56 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The firm has a 50 day moving average price of $48.49 and a two-hundred day moving average price of $38.62.

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

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the sale, the chief technology officer now owns 5,876 shares in the company, valued at $250,552.64. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,627,010 shares of company stock valued at $131,897,049. 19.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HOOD has been the topic of a number of analyst reports. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Morgan Stanley upped their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and upped their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.24.

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.