California State Teachers Retirement System Raises Stake in Robinhood Markets, Inc. $HOOD

California State Teachers Retirement System increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 9,976.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 113,132,988 shares of the company’s stock after acquiring an additional 112,010,233 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Robinhood Markets worth $11,344,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. State Street Corp grew its stake in Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares in the last quarter. Norges Bank purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $1,202,160,000. Bank of New York Mellon Corp bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $379,695,000. Amundi raised its stake in shares of Robinhood Markets by 89.0% during the first quarter. Amundi now owns 6,385,232 shares of the company’s stock valued at $442,497,000 after acquiring an additional 3,007,103 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Robinhood Markets by 5,221.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock valued at $289,519,000 after purchasing an additional 2,511,743 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on HOOD shares. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $124.00 to $150.00 in a research note on Tuesday, September 1st. Barclays decreased their target price on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $135.00) on shares of Robinhood Markets in a research report on Wednesday, September 2nd. Scotiabank started coverage on Robinhood Markets in a research report on Wednesday, September 2nd. They set a “sector outperform” rating and a $136.00 price target on the stock. Finally, Mizuho raised their price target on Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.00.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 57,898 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $89.63, for a total transaction of $5,189,397.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $90.42, for a total transaction of $904,200.00. Following the sale, the insider directly owned 461,396 shares of the company’s stock, valued at approximately $41,719,426.32. The trade was a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 626,283 shares of company stock valued at $69,070,083 in the last three months. 13.48% of the stock is currently owned by insiders.

Robinhood Markets Trading Down 3.9%

Shares of NASDAQ:HOOD opened at $117.34 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The business’s fifty day simple moving average is $103.48 and its 200-day simple moving average is $88.97. The company has a market capitalization of $105.50 billion, a PE ratio of 51.69, a P/E/G ratio of 2.50 and a beta of 2.34. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 2.09 earnings per share for the current fiscal year.

Robinhood Markets News Roundup

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

• Positive Sentiment: Prediction-markets expansion: Robinhood announced a multiyear partnership with OG.com, a federally regulated exchange spun out of Crypto.com. OG.com will provide infrastructure and clearing for Robinhood’s event contracts, including football-related markets. Robinhood will also take minority stakes in OG.com and Crypto.com, while adding Crypto.com’s yes-or-no contracts to its platform. The move could expand a rapidly growing business and diversify transaction revenue. Reuters article
• Positive Sentiment: New investment-banking opportunity: Robinhood was named an underwriter for smart-ring maker Oura’s IPO. The role could improve retail-investor access to IPO allocations, strengthen relationships with issuers and create a new fee-based revenue stream beyond brokerage trading. Zacks article
• Positive Sentiment: Analyst support: Cantor Fitzgerald raised its price target to $150 from $115 and maintained an “overweight” rating, citing Robinhood’s growth prospects. Recent coverage has also highlighted strong momentum in prediction markets and related product expansion.
• Neutral Sentiment: Investor attention remains elevated: Robinhood has been among the most searched stocks, following a sharp August rally and recent bullish analyst upgrades. High visibility may support continued buying but also increases the risk of volatile trading.
• Negative Sentiment: Valuation and selling pressure: With shares trading well above their 200-day average and at a high earnings multiple, investors may be taking profits and demanding stronger evidence that prediction markets and investment banking can justify the valuation. Robinhood also reported that some customers were quietly selling, a potential near-term headwind.

Robinhood Markets Company Profile

Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.

The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.