SBI Securities Co. Ltd. Increases Holdings in Robinhood Markets, Inc. $HOOD

SBI Securities Co. Ltd. increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 61.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,178 shares of the company’s stock after purchasing an additional 29,432 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Robinhood Markets were worth $7,226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HOOD. Hantz Financial Services Inc. boosted its position in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets during the 2nd quarter valued at approximately $36,000. LGT Financial Advisors LLC bought a new stake in Robinhood Markets in the second quarter worth $37,000. Atlantic Union Bankshares Corp bought a new position in Robinhood Markets during the second quarter valued at $37,000. Finally, REAP Financial Group LLC increased its holdings in shares of Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after buying an additional 160 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the sale, the director owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,715,742 shares of company stock worth $574,788,553. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 2.9%

Shares of HOOD opened at $131.93 on Wednesday. The company has a market capitalization of $117.24 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 3.17 and a beta of 2.42. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The stock’s 50-day moving average price is $131.37 and its 200-day moving average price is $101.53.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HOOD. KeyCorp boosted their price objective on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Bank of America increased their price target on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Zacks Research cut Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

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.