Rakuten Securities Inc. Grows Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Rakuten Securities Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 752.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,862 shares of the company’s stock after purchasing an additional 19,297 shares during the period. Rakuten Securities Inc.’s holdings in Robinhood Markets were worth $815,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the period. IFP Advisors Inc lifted its holdings in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after purchasing an additional 3,769 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $634,000. Atomi Financial Group Inc. lifted its holdings in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $266,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 2.0 %

Robinhood Markets stock opened at $36.36 on Wednesday. The stock has a market cap of $32.20 billion, a PE ratio of 23.16, a P/E/G ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average price of $48.96 and a 200 day moving average price of $36.25. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at $821,936.79. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,985,127 shares of company stock valued at $142,455,378. Insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JMP Securities increased their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Morgan Stanley increased their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Citigroup increased their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.13.

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.