Tokio Marine Asset Management Co. Ltd. Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,287 shares of the company's stock, valued at approximately $886,000.

A number of other hedge funds also recently added to or reduced their stakes in HOOD. Vanguard Group Inc. lifted its holdings in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Wealthquest Corp acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $156,193,000. Finally, AQR Capital Management LLC raised its holdings in shares of Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler raised their price objective on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup raised their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,644,685 shares of company stock worth $430,085,957. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Up 1.9%

Shares of NASDAQ:HOOD opened at $110.71 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70. The firm's 50-day simple moving average is $94.57 and its 200-day simple moving average is $65.70. The company has a market cap of $98.38 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 4.14 and a beta of 2.36.

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

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