Strs Ohio Purchases 8,511 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Posted by Defense World Staff on Jul 23rd, 2023

Strs Ohio raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,530 shares of the company’s stock after acquiring an additional 8,511 shares during the quarter. Strs Ohio’s holdings in Robinhood Markets were worth $869,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Robinhood Markets by 1,217.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 140,200 shares of the company’s stock worth $1,141,000 after purchasing an additional 129,560 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Robinhood Markets by 61.3% during the fourth quarter. Engineers Gate Manager LP now owns 268,892 shares of the company’s stock worth $2,189,000 after acquiring an additional 102,189 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Robinhood Markets during the fourth quarter valued at $6,222,000. Alpine Global Management LLC increased its holdings in Robinhood Markets by 0.5% in the 4th quarter. Alpine Global Management LLC now owns 3,066,831 shares of the company’s stock valued at $24,964,000 after acquiring an additional 14,764 shares during the last quarter. Finally, Trivest Advisors Ltd purchased a new stake in Robinhood Markets in the 4th quarter worth $1,058,000. 59.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HOOD shares. The Goldman Sachs Group raised their price objective on Robinhood Markets from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $9.00 to $10.00 in a research note on Thursday, May 11th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price objective on shares of Robinhood Markets in a report on Friday, June 30th. Piper Sandler raised their target price on shares of Robinhood Markets from $10.00 to $11.00 in a report on Wednesday, July 5th. Finally, Morgan Stanley upped their price target on shares of Robinhood Markets from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and an average target price of $12.09.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Baiju Bhatt sold 23,313 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $8.41, for a total value of $196,062.33. Following the sale, the insider now owns 100,300 shares in the company, valued at $843,523. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Baiju Bhatt sold 23,313 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $8.41, for a total value of $196,062.33. Following the transaction, the insider now directly owns 100,300 shares in the company, valued at $843,523. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jason Warnick sold 40,000 shares of Robinhood Markets stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $12.00, for a total transaction of $480,000.00. Following the sale, the chief financial officer now owns 708,325 shares of the company’s stock, valued at approximately $8,499,900. The disclosure for this sale can be found here. Insiders sold a total of 540,889 shares of company stock worth $5,422,725 in the last quarter. 20.81% of the stock is owned by company insiders.

Robinhood Markets Trading Down 0.4 %

Robinhood Markets stock opened at $12.76 on Friday. Robinhood Markets, Inc. has a 12-month low of $7.57 and a 12-month high of $13.23. The firm has a 50-day moving average price of $10.03 and a 200-day moving average price of $9.69. The firm has a market capitalization of $11.52 billion, a PE ratio of -9.82 and a beta of 1.19.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.04. The business had revenue of $441.00 million during the quarter, compared to the consensus estimate of $430.04 million. Robinhood Markets had a negative net margin of 76.47% and a negative return on equity of 16.40%. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post -0.61 earnings per share for the current fiscal year.

Robinhood Markets Profile

(Free Report)

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company provides various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is an online collection of beginners' guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and Dow Jones; Snacks, an accessible digest of business news stories for new generation of investors.