Maryland State Retirement & Pension System Sells 1,379 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Maryland State Retirement & Pension System reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,757 shares of the company’s stock after selling 1,379 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Robinhood Markets were worth $1,370,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HOOD. Victory Capital Management Inc. grew its stake in shares of Robinhood Markets by 85.3% during the 3rd quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after acquiring an additional 54,046 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Robinhood Markets by 44.0% during the 3rd quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after acquiring an additional 10,376 shares in the last quarter. Quest Partners LLC grew its stake in shares of Robinhood Markets by 1,008.4% during the 3rd quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after acquiring an additional 13,725 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $365,000. Finally, Commerce Bank grew its stake in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Barclays raised their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. KeyCorp raised their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Citigroup raised their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,979,251 shares of company stock valued at $142,232,560. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

HOOD opened at $44.36 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. The stock has a fifty day moving average of $49.04 and a 200-day moving average of $37.28.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.