Robinhood Markets, Inc. (NASDAQ:HOOD) is Nikko Asset Management Americas Inc.'s Largest Position

Nikko Asset Management Americas Inc. decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,513,608 shares of the company's stock after selling 5,392,069 shares during the period. Robinhood Markets comprises 6.7% of Nikko Asset Management Americas Inc.'s portfolio, making the stock its largest holding. Nikko Asset Management Americas Inc. owned about 1.87% of Robinhood Markets worth $615,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC lifted its stake in shares of Robinhood Markets by 286.5% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 36,279 shares of the company's stock worth $1,352,000 after purchasing an additional 26,893 shares during the period. Signaturefd LLC raised its position in Robinhood Markets by 77.1% in the fourth quarter. Signaturefd LLC now owns 6,087 shares of the company's stock worth $227,000 after acquiring an additional 2,650 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Robinhood Markets by 81.9% during the 4th quarter. Harbour Investments Inc. now owns 2,676 shares of the company's stock valued at $100,000 after acquiring an additional 1,205 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Robinhood Markets in the 4th quarter worth $314,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

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Robinhood Markets Stock Up 4.6 %

Robinhood Markets stock traded up $1.84 during mid-day trading on Wednesday, reaching $41.94. 26,842,132 shares of the company's stock traded hands, compared to its average volume of 20,672,599. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The company has a market cap of $37.14 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.05 and a beta of 2.14. The stock has a 50 day moving average of $48.86 and a two-hundred day moving average of $36.90.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares of the company's stock, valued at $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. Mizuho upped their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $61.29.

Robinhood Markets 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.