State of New Jersey Common Pension Fund D Decreases Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,634 shares of the company’s stock after selling 51,602 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Robinhood Markets were worth $4,579,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Robinhood Markets in the second quarter valued at about $4,508,000. Daiwa Securities Group Inc. boosted its holdings in shares of Robinhood Markets by 11.8% in the second quarter. Daiwa Securities Group Inc. now owns 46,420 shares of the company’s stock valued at $1,054,000 after acquiring an additional 4,885 shares during the period. Sparta 24 Ltd. acquired a new position in Robinhood Markets in the second quarter valued at $3,669,000. Dorsey & Whitney Trust CO LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $219,000. Finally, Prudential PLC increased its holdings in shares of Robinhood Markets by 80.8% in the second quarter. Prudential PLC now owns 39,782 shares of the company’s stock valued at $903,000 after purchasing an additional 17,775 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HOOD shares. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Piper Sandler upgraded Robinhood Markets from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 12th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley upped their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.83.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,325,322 shares of company stock valued at $26,225,912. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $22.21 on Tuesday. The business’s fifty day moving average price is $20.55 and its two-hundred day moving average price is $19.82. The firm has a market capitalization of $19.52 billion, a price-to-earnings ratio of 148.07 and a beta of 1.82. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Robinhood Markets Company 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.