Asahi Life Asset Management CO. LTD. Acquires New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Asahi Life Asset Management CO. LTD. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,370 shares of the company's stock, valued at approximately $307,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HOOD. SBI Securities Co. Ltd. grew its position in shares of Robinhood Markets by 29.5% in the first quarter. SBI Securities Co. Ltd. now owns 47,746 shares of the company's stock valued at $1,987,000 after purchasing an additional 10,864 shares in the last quarter. Signaturefd LLC grew its position in Robinhood Markets by 1,777.4% during the first quarter. Signaturefd LLC now owns 114,277 shares of the company's stock worth $4,756,000 after buying an additional 108,190 shares in the last quarter. Bleakley Financial Group LLC grew its position in Robinhood Markets by 43.7% during the first quarter. Bleakley Financial Group LLC now owns 10,681 shares of the company's stock worth $445,000 after buying an additional 3,248 shares in the last quarter. Left Brain Wealth Management LLC grew its position in Robinhood Markets by 50.7% during the first quarter. Left Brain Wealth Management LLC now owns 16,425 shares of the company's stock worth $684,000 after buying an additional 5,525 shares in the last quarter. Finally, Westmount Partners LLC grew its position in Robinhood Markets by 1.4% during the first quarter. Westmount Partners LLC now owns 55,381 shares of the company's stock worth $2,305,000 after buying an additional 750 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the completion of the sale, the insider owned 816,887 shares in the company, valued at approximately $76,689,351.56. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 114,175 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $101.65, for a total value of $11,605,888.75. The disclosure for this sale can be found here. Insiders have sold 2,587,217 shares of company stock worth $191,037,231 over the last 90 days. Insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Cantor Fitzgerald boosted their target price on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $85.29.

Robinhood Markets Trading Down 0.4%

Robinhood Markets stock traded down $0.42 during trading on Tuesday, hitting $99.54. The company had a trading volume of 45,708,985 shares, compared to its average volume of 30,476,407. The stock has a market cap of $88.14 billion, a price-to-earnings ratio of 56.56, a price-to-earnings-growth ratio of 5.25 and a beta of 2.36. The company's 50 day simple moving average is $74.52 and its 200-day simple moving average is $55.96. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $101.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company's revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.