Public Employees Retirement System of Ohio Buys 40,647 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Public Employees Retirement System of Ohio increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 15.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 303,629 shares of the company's stock after purchasing an additional 40,647 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Robinhood Markets were worth $7,111,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HOOD. Baker Avenue Asset Management LP increased its position in shares of Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock valued at $10,874,000 after purchasing an additional 203,354 shares during the last quarter. Bridgewater Associates LP grew its position in Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock valued at $7,751,000 after buying an additional 165,791 shares during the period. EULAV Asset Management increased its holdings in Robinhood Markets by 22.2% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company's stock worth $12,881,000 after buying an additional 100,000 shares during the last quarter. Blueshift Asset Management LLC raised its position in Robinhood Markets by 376.5% in the third quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company's stock worth $3,395,000 after acquiring an additional 114,525 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in Robinhood Markets by 821.8% in the third quarter. Quadrature Capital Ltd now owns 202,623 shares of the company's stock valued at $4,749,000 after acquiring an additional 180,641 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 19,861 shares of the business's stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,037,689 shares of company stock worth $177,092,487. Insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOOD. Barclays upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $26.00 to $49.00 in a research note on Monday. Morgan Stanley raised Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Citigroup upped their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Friday, September 27th. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $38.13.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.87 during trading hours on Friday, hitting $40.20. The stock had a trading volume of 18,245,149 shares, compared to its average volume of 16,822,104. The company has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $24.85. The firm has a market capitalization of $35.54 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $42.76.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Robinhood Markets's quarterly revenue was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current 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.