Robinhood Markets, Inc. $HOOD Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 311,298 shares of the company’s stock after purchasing an additional 38,755 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Robinhood Markets were worth $29,147,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. True Vision MN LLC grew its stake in Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after buying an additional 116 shares during the period. Forum Financial Management LP lifted its holdings in shares of Robinhood Markets by 0.8% during the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after acquiring an additional 134 shares in the last quarter. Hemington Wealth Management boosted its position in Robinhood Markets by 22.5% during the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after purchasing an additional 143 shares during the period. Ballentine Partners LLC increased its holdings in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after purchasing an additional 148 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HOOD. Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. CICC Research began coverage on Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target for the company. KeyCorp increased their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Down 8.6%

Shares of HOOD opened at $121.53 on Friday. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 3.04 and a beta of 2.42. The business’s 50 day moving average is $132.38 and its two-hundred day moving average is $101.89. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the transaction, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the sale, the insider directly owned 540,949 shares of the company’s stock, valued at approximately $78,951,506.55. This represents a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,297,404 shares of company stock worth $529,026,559. 14.47% of the stock is currently owned by insiders.

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.