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

Nomura Asset Management Co. Ltd. grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,529 shares of the company’s stock after purchasing an additional 44,227 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Robinhood Markets were worth $20,929,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC lifted its stake in Robinhood Markets by 4.0% in the second 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 last quarter. WCM Investment Management LLC grew its position in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $951,479,000. Finally, AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% in the 1st 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. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the sale, the chief technology officer owned 6,088 shares of the company’s stock, valued at $894,388.08. The trade was a 49.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,297,404 shares of company stock worth $529,026,559. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD 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 P/E/G ratio of 2.59 and a beta of 2.42. The stock’s fifty day moving average price is $132.70 and its two-hundred day moving average price 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 announced its 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 net margin of 52.19% and a return on equity of 21.74%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on HOOD shares. Mizuho boosted their price target on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group lifted their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Barclays upped their price objective on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.65.

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.