165,101 Shares in Robinhood Markets, Inc. $HOOD Bought by Retirement Systems of Alabama

Retirement Systems of Alabama acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 165,101 shares of the company’s stock, valued at approximately $23,639,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its position in Robinhood Markets by 18.5% in the third quarter. Whittier Trust Co. now owns 12,669 shares of the company’s stock valued at $1,884,000 after purchasing an additional 1,974 shares during the period. CIBC Asset Management Inc boosted its holdings in Robinhood Markets by 229.6% in the third quarter. CIBC Asset Management Inc now owns 105,975 shares of the company’s stock valued at $15,174,000 after purchasing an additional 73,820 shares during the period. BLB&B Advisors LLC acquired a new position in shares of Robinhood Markets during the third quarter worth about $8,030,000. Sagespring Wealth Partners LLC increased its position in shares of Robinhood Markets by 10.2% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 10,356 shares of the company’s stock valued at $1,483,000 after purchasing an additional 956 shares during the last quarter. Finally, Owen LaRue LLC purchased a new position in Robinhood Markets in the third quarter valued at $306,000. 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 Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.58, for a total transaction of $1,215,800.00. Following the completion of the transaction, the insider owned 403,612 shares in the company, valued at approximately $49,071,146.96. The trade was a 2.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,872,561 shares of company stock worth $357,470,545 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 0.0%

HOOD opened at $107.00 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86. The firm has a market capitalization of $96.21 billion, a P/E ratio of 44.40, a P/E/G ratio of 1.67 and a beta of 2.44. The firm’s 50 day moving average is $118.77 and its 200-day moving average is $119.93.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HOOD. Truist Financial assumed coverage on Robinhood Markets in a research report on Wednesday, December 17th. They set a “buy” rating and a $155.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Barclays lowered their target price on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a research report on Monday, January 5th. Finally, Needham & Company LLC lowered their target price on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.62.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.