Resona Asset Management Co. Ltd. Purchases 48,439 Shares of Robinhood Markets, Inc. $HOOD

Resona Asset Management Co. Ltd. increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,786 shares of the company’s stock after buying an additional 48,439 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Robinhood Markets were worth $21,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. Atlantic Union Bankshares Corp bought a new stake in Robinhood Markets in the 2nd quarter worth approximately $37,000. First Horizon Advisors Inc. boosted its position in shares of Robinhood Markets by 7.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,290 shares of the company’s stock valued at $402,000 after acquiring an additional 297 shares during the last quarter. Main Street Research LLC purchased a new stake in Robinhood Markets during the second quarter valued at $50,255,000. Ellevest Inc. lifted its position in Robinhood Markets by 9.8% during the second quarter. Ellevest Inc. now owns 7,662 shares of the company’s stock valued at $717,000 after purchasing an additional 683 shares during the last quarter. Finally, Rockline Wealth Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth about $226,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets 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 of the company’s stock, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,385,742 shares of company stock valued at $403,923,453. 14.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of analyst reports. Citizens Jmp increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a report on Thursday, October 9th. KeyCorp lifted their target price on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Needham & Company LLC raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.15.

Robinhood Markets Stock Down 10.8%

HOOD stock opened at $127.08 on Friday. Robinhood Markets, Inc. has a twelve month low of $28.67 and a twelve month high of $153.86. The firm has a market cap of $112.93 billion, a price-to-earnings ratio of 52.73, a PEG ratio of 3.70 and a beta of 2.42. The business’s fifty day simple moving average is $129.58 and its two-hundred day simple moving average is $98.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 100.0% on a year-over-year basis. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

About Robinhood Markets

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.