California Public Employees Retirement System Has $40.05 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

California Public Employees Retirement System lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,074,872 shares of the company’s stock after selling 58,279 shares during the period. California Public Employees Retirement System owned 0.12% of Robinhood Markets worth $40,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV grew its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $37,000. Bogart Wealth LLC bought a new position in Robinhood Markets during the 4th quarter worth $37,000. Finally, Spire Wealth Management raised its holdings in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $42.68 on Thursday. The business has a 50 day moving average of $48.73 and a 200-day moving average of $38.63. The company has a market capitalization of $37.79 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced 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 net margin of 47.81% and a return on equity of 13.53%. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.45, for a total value of $4,045,000.00. Following the transaction, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This trade represents a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,205,655 shares of company stock worth $113,702,448 over the last three months. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HOOD. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

About Robinhood Markets

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.