Nomura Asset Management Co. Ltd. Acquires 44,227 Shares of Robinhood Markets, Inc. $HOOD

Nomura Asset Management Co. Ltd. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,529 shares of the company’s stock after buying an additional 44,227 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Robinhood Markets were worth $20,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after acquiring an additional 507,926 shares during the period. WCM Investment Management LLC boosted its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets during the second quarter valued at approximately $951,479,000. Finally, AGF Management Ltd. grew its holdings in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the period. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $114.30 on Wednesday. The firm has a market cap of $102.78 billion, a price-to-earnings ratio of 47.43, a price-to-earnings-growth ratio of 2.59 and a beta of 2.42. The stock’s 50-day moving average is $132.70 and its 200-day moving average is $104.10. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.17 earnings per share. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,297,404 shares of company stock worth $529,026,559. 19.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HOOD. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Citizens Jmp boosted their target price on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Citigroup raised their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Needham & Company LLC lifted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.