Robinhood Markets, Inc. (NASDAQ:HOOD) Position Lifted by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,297,822 shares of the company's stock after purchasing an additional 2,486,986 shares during the quarter. Robinhood Markets comprises about 3.5% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 9th biggest holding. Nikko Asset Management Americas Inc. owned approximately 3.27% of Robinhood Markets worth $360,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company's stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the last quarter. Vanguard Group Inc. boosted its stake in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company's stock worth $561,732,000 after buying an additional 2,459,702 shares during the period. ARK Investment Management LLC increased its position in shares of Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company's stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the last quarter. Kettle Hill Capital Management LLC boosted its position in shares of Robinhood Markets by 84.2% during the 3rd quarter. Kettle Hill Capital Management LLC now owns 2,202,519 shares of the company's stock worth $21,607,000 after purchasing an additional 1,006,569 shares during the period. Finally, Northern Trust Corp increased its holdings in Robinhood Markets by 37.5% in the 3rd quarter. Northern Trust Corp now owns 3,099,424 shares of the company's stock valued at $30,405,000 after purchasing an additional 845,178 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 60,895 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $14.43, for a total value of $878,714.85. Following the completion of the transaction, the insider now directly owns 350,769 shares of the company's stock, valued at $5,061,596.67. The sale was disclosed in a filing with the SEC, which is available at this link. In other Robinhood Markets news, insider Baiju Bhatt sold 188,077 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the completion of the transaction, the insider now owns 36,045 shares of the company's stock, valued at $489,130.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 60,895 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $14.43, for a total value of $878,714.85. Following the completion of the sale, the insider now owns 350,769 shares in the company, valued at $5,061,596.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,561,206 shares of company stock worth $41,414,650. 20.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HOOD. Keefe, Bruyette & Woods began coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a "market perform" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 14th. KeyCorp increased their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, April 22nd. Barclays lifted their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the stock an "underweight" rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Robinhood Markets in a research note on Monday, May 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Hold" and a consensus target price of $19.75.

Robinhood Markets Stock Performance

HOOD traded up $2.19 during trading on Friday, hitting $20.09. The stock had a trading volume of 53,128,845 shares, compared to its average volume of 15,447,223. The firm has a market capitalization of $17.57 billion, a P/E ratio of 133.27 and a beta of 1.74. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $20.55. The company's 50-day moving average price is $17.95 and its 200 day moving average price is $13.72.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business's revenue was up 40.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.57) earnings per share. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.53 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.

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