State of New Jersey Common Pension Fund D Has $23.25 Million Stake in Robinhood Markets, Inc. $HOOD

State of New Jersey Common Pension Fund D increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,273 shares of the company’s stock after buying an additional 37,361 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Robinhood Markets were worth $23,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HOOD. Hemington Wealth Management increased its holdings in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the first quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the first quarter valued at $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at $36,000. Finally, Colonial Trust Advisors increased its holdings in shares of Robinhood Markets by 125.0% in the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total value of $55,684,971.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the sale, the insider owned 565,949 shares in the company, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,175,598 shares of company stock worth $579,779,430 in the last quarter. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Up 4.1%

Shares of Robinhood Markets stock opened at $139.79 on Friday. The company has a market capitalization of $124.23 billion, a price-to-earnings ratio of 70.96, a PEG ratio of 3.49 and a beta of 2.42. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The firm’s 50-day moving average price is $123.41 and its two-hundred day moving average price is $92.29.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets 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.