Sumitomo Mitsui DS Asset Management Company Ltd Has $2.59 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,209 shares of the company's stock after buying an additional 7,576 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Robinhood Markets were worth $2,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Robinhood Markets in the first quarter worth $277,000. Charles Schwab Investment Management Inc. lifted its position in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Fiduciary Alliance LLC bought a new stake in shares of Robinhood Markets in the first quarter worth $2,177,000. Invesco Ltd. lifted its position in shares of Robinhood Markets by 132.6% in the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after purchasing an additional 1,634,599 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,447,691 shares of company stock valued at $176,703,476. 14.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HOOD shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Mizuho upped their price target on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research report on Tuesday. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Robinhood Markets Price Performance

Shares of HOOD opened at $94.13 on Friday. The firm has a market capitalization of $83.35 billion, a PE ratio of 53.48, a PEG ratio of 4.80 and a beta of 2.36. The company's 50-day moving average is $68.81 and its 200-day moving average is $53.34. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $100.88.

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

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.