New York State Common Retirement Fund Has $14.47 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

New York State Common Retirement Fund lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,282 shares of the company’s stock after selling 18,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Robinhood Markets were worth $14,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HOOD. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets during the fourth quarter worth about $634,000. Atomi Financial Group Inc. grew its stake in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC bought a new position in Robinhood Markets in the 4th quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its position in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $51.60 on Monday. Robinhood Markets, Inc. has a one year low of $13.59 and a one year high of $66.91. The company has a market cap of $45.61 billion, a PE ratio of 32.87, a P/E/G ratio of 1.05 and a beta of 2.13. The firm’s 50 day simple moving average is $47.42 and its 200 day simple moving average is $34.03.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley increased their price target 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. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC raised their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, JMP Securities boosted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

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.