Nomura Asset Management Co. Ltd. Grows Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nomura Asset Management Co. Ltd. grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,100 shares of the company’s stock after buying an additional 17,200 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Robinhood Markets were worth $3,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Robinhood Markets in the third quarter worth about $1,965,000. MML Investors Services LLC raised its holdings in shares of Robinhood Markets by 58.0% in the 3rd quarter. MML Investors Services LLC now owns 51,839 shares of the company’s stock valued at $1,214,000 after purchasing an additional 19,027 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $1,872,000. State Street Corp boosted its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in Robinhood Markets by 821.8% during the third quarter. Quadrature Capital Ltd now owns 202,623 shares of the company’s stock valued at $4,749,000 after buying an additional 180,641 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the completion of the sale, the insider now owns 1,070,000 shares in the company, valued at $25,059,400. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,037,689 shares of company stock worth $177,092,487 over the last quarter. Insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. KeyCorp upped their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $38.13.

Robinhood Markets Trading Up 2.2 %

NASDAQ:HOOD opened at $40.20 on Friday. The company has a market capitalization of $35.54 billion, a P/E ratio of 68.14, a PEG ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a 12 month low of $10.38 and a 12 month high of $42.76. The firm has a fifty day simple moving average of $31.70 and a 200-day simple moving average of $24.98.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 0.8 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.