Illinois Municipal Retirement Fund Has $5.14 Million Holdings in Robinhood Markets, Inc. $HOOD

Illinois Municipal Retirement Fund increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 74,122 shares of the company’s stock after acquiring an additional 11,966 shares during the period. Illinois Municipal Retirement Fund’s holdings in Robinhood Markets were worth $5,137,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares in the last quarter. State Street Corp increased its position in shares of Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after purchasing an additional 875,297 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley lifted its holdings in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after purchasing an additional 2,061,832 shares during the last quarter. Finally, Norges Bank bought a new position in Robinhood Markets during the 4th quarter valued at about $1,202,160,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 28th. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Mizuho boosted their target price on Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Morgan Stanley boosted their target price on Robinhood Markets from $95.00 to $124.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Finally, China Renaissance initiated coverage on Robinhood Markets in a research report on Tuesday, July 7th. They set a “buy” rating on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.70.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood to $137 from $121 and reiterated a Buy rating ahead of earnings, signaling confidence in the company’s growth potential and implying meaningful upside from current levels. Goldman Sachs raises price target on Robinhood ahead of earnings
• Neutral Sentiment: Robinhood is drawing heavy investor attention online, with Zacks noting that the stock has become a trending name; this reflects interest rather than a direct fundamental catalyst. Robinhood Markets, Inc. (HOOD) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Robinhood recently benefited from a broad market upswing and has continued to trade well above its 50-day and 200-day moving averages, but that momentum has been offset by a more volatile tape in recent sessions. Robinhood Markets, Inc. (HOOD) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Brokerage stocks, including Robinhood, were hit by a Nasdaq-100 selloff and a decline in crypto prices, both of which can reduce trading activity and weigh on revenue expectations. Robinhood Drops 4%, Webull Tumbles 6% as NASDAQ 100 Selloff and Crypto Dip Hit Retail-Brokerage Stocks
• Negative Sentiment: Reports that Robinhood is selling $400 million of credit-card asset-backed bonds added to investor caution, likely feeding concerns about financing activity and broader market stress. Why Is Robinhood Stock Falling on Friday?

Robinhood Markets Stock Down 5.7%

Shares of NASDAQ:HOOD opened at $99.96 on Friday. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The company’s 50-day moving average price is $94.26 and its two-hundred day moving average price is $89.09. The firm has a market cap of $90.01 billion, a P/E ratio of 48.29, a P/E/G ratio of 2.11 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka bought 250,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the purchase, the director owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This represents a 6.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. 13.48% of the stock is currently owned by corporate insiders.

Robinhood Markets Profile

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.