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

Nomura Asset Management Co. Ltd. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 154,100 shares of the company's stock after acquiring an additional 17,200 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Robinhood Markets were worth $3,609,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company's stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. Azora Capital LP bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $79,780,000. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC raised its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Finally, Sparta 24 Ltd. lifted its holdings in Robinhood Markets by 905.8% in the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company's stock valued at $38,061,000 after buying an additional 1,463,578 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

HOOD traded up $0.87 during midday trading on Friday, reaching $40.20. 19,794,863 shares of the company were exchanged, compared to its average volume of 16,822,104. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $42.76. The company's fifty day moving average price is $31.70 and its 200 day moving average price is $25.01. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 68.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The business's revenue for the quarter was up 36.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. The trade was a 9.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares in the company, valued at $23,656,275. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,037,689 shares of company stock worth $177,092,487. Insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HOOD shares. Barclays upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $26.00 to $49.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. Finally, Morgan Stanley raised shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.13.

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.