Maryland State Retirement & Pension System Has $3.37 Million Stake in Robinhood Markets, Inc. $HOOD

Maryland State Retirement & Pension System lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,971 shares of the company’s stock after buying an additional 4,565 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Robinhood Markets were worth $3,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $36,000. REAP Financial Group LLC grew its position in shares of Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after buying an additional 160 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $56,000. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Compass Point increased their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday. Barclays increased their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Citigroup increased their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley increased their target price on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.94.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,122 shares of company stock valued at $618,215,681 in the last 90 days. Insiders own 14.47% of the company’s stock.

Robinhood Markets Trading Up 1.1%

Shares of NASDAQ:HOOD opened at $152.46 on Friday. The stock’s fifty day simple moving average is $117.92 and its two-hundred day simple moving average is $85.18. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The stock has a market cap of $135.49 billion, a PE ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. During the same period last year, the business earned $0.21 EPS. The business’s revenue was up 45.0% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.