Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its investment in Robinhood Markets by 33.9%, acquiring a total of approximately 815,806 shares valued at nearly $34 million.
• Robinhood reported a 45% increase in revenue year-over-year for the last quarter, achieving $989 million and beating analyst expectations by $95 million.
• Insiders sold a total of 4.75 million shares of Robinhood stock over the past 90 days, indicating significant stock movement among company executives.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 815,806 shares of the company's stock after purchasing an additional 206,389 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Robinhood Markets worth $33,954,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management grew its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the 1st quarter worth $30,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new position in Robinhood Markets during the 4th quarter worth $34,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD traded up $0.47 during mid-day trading on Tuesday, hitting $114.09. 31,418,771 shares of the stock were exchanged, compared to its average volume of 41,767,250. The firm has a 50-day moving average of $92.24 and a two-hundred day moving average of $64.62. Robinhood Markets, Inc. has a 52-week low of $18.36 and a 52-week high of $117.70. The company has a market cap of $101.39 billion, a PE ratio of 57.91, a price-to-earnings-growth ratio of 4.37 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Piper Sandler lifted their target price on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Mizuho lifted their target price on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $104.73, for a total value of $614,136.72. Following the sale, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This trade represents a 65.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 385,485 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $430,085,957 over the last 90 days. Company insiders own 19.95% of the company's stock.

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.