North Dakota State Investment Board Takes $2.87 Million Position in Robinhood Markets, Inc. $HOOD

North Dakota State Investment Board purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,351 shares of the company’s stock, valued at approximately $2,867,000.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its stake in Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after acquiring an additional 15,885 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Robinhood Markets in the second quarter valued at approximately $5,105,000. Federated Hermes Inc. boosted its stake in Robinhood Markets by 106.2% in the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after acquiring an additional 32,933 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Robinhood Markets by 19.1% in the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after acquiring an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in Robinhood Markets in the second quarter valued at approximately $1,316,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In related news, CFO Shiv Verma sold 5,436 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $85.86, for a total transaction of $466,734.96. Following the sale, the chief financial officer directly owned 52,747 shares in the company, valued at $4,528,857.42. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the sale, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 487,907 shares of company stock valued at $35,444,040 over the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

HOOD opened at $77.15 on Tuesday. The firm’s fifty day moving average is $76.39 and its two-hundred day moving average is $98.07. The firm has a market cap of $69.47 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 2.52 and a beta of 2.29. Robinhood Markets, Inc. has a twelve month low of $59.68 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Equities analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HOOD shares. Mizuho raised their price objective on shares of Robinhood Markets from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Piper Sandler reduced their price objective on shares of Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a report on Monday, February 9th. Jefferies Financial Group cut their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $102.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $107.88.

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.