Mutual of America Capital Management LLC Buys Shares of 83,896 Robinhood Markets, Inc. $HOOD

Mutual of America Capital Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,896 shares of the company’s stock, valued at approximately $12,012,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% in the second quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the last quarter. State Street Corp raised its position in Robinhood Markets by 9.2% in the second quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after acquiring an additional 1,341,204 shares during the period. Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after acquiring an additional 507,926 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets in the 2nd quarter worth $973,122,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HOOD shares. Cantor Fitzgerald lowered their target price on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a research report on Thursday, December 11th. Barclays lowered their price objective on Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. KeyCorp increased their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $107.00 on Tuesday. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The firm’s 50 day moving average price is $118.77 and its 200-day moving average price is $119.93. The stock has a market cap of $96.21 billion, a P/E ratio of 44.40, a PEG ratio of 1.67 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. During the same period last year, the company posted $0.17 earnings per share. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,872,561 shares of company stock worth $357,470,545. 19.95% of the stock is currently owned by company insiders.

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.