Nomura Asset Management Co. Ltd. Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nomura Asset Management Co. Ltd. lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 152,650 shares of the company’s stock after selling 1,450 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Robinhood Markets were worth $5,688,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Robinhood Markets during the fourth quarter valued at $329,598,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Robinhood Markets by 66.4% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,843 shares of the company’s stock valued at $1,410,000 after purchasing an additional 15,106 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $75,000. BIT Capital GmbH lifted its position in Robinhood Markets by 176.8% in the fourth quarter. BIT Capital GmbH now owns 1,826,022 shares of the company’s stock valued at $68,038,000 after purchasing an additional 1,166,427 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Robinhood Markets during the 4th quarter valued at $477,000. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Raymond James initiated coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.82.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $42.16 on Wednesday. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company’s fifty day moving average price is $48.88 and its 200-day moving average price is $38.60. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the completion of the sale, the chief technology officer now owns 11,706 shares in the company, valued at $507,572.16. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,955,655 shares of company stock worth $143,072,448. Insiders own 19.95% of the company’s stock.

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.