Public Sector Pension Investment Board Sells 400 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Public Sector Pension Investment Board lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,440 shares of the company’s stock after selling 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Robinhood Markets were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Baker Avenue Asset Management LP boosted its stake in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Robinhood Markets by 100.4% during the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after acquiring an additional 165,791 shares in the last quarter. EULAV Asset Management increased its stake in Robinhood Markets by 22.2% in the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the period. 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 purchasing an additional 114,525 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Robinhood Markets during the third quarter worth about $770,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday. Bank of America boosted their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the transaction, the insider now directly owns 1,070,000 shares in the company, valued at $25,059,400. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold a total of 4,455,410 shares of company stock worth $111,119,901 in the last quarter. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $38.92 on Friday. The business’s fifty day moving average price is $29.40 and its two-hundred day moving average price is $24.09. The firm has a market capitalization of $34.40 billion, a price-to-earnings ratio of 65.97, a PEG ratio of 0.90 and a beta of 2.09. Robinhood Markets, Inc. has a 52 week low of $10.38 and a 52 week high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Robinhood Markets 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.