6,900 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,900 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in Robinhood Markets by 32.2% in the 3rd quarter. Cerity Partners LLC now owns 107,629 shares of the company’s stock valued at $2,521,000 after buying an additional 26,245 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Robinhood Markets by 7.5% in the third quarter. Daiwa Securities Group Inc. now owns 49,910 shares of the company’s stock valued at $1,168,000 after acquiring an additional 3,490 shares in the last quarter. FMR LLC increased its stake in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the period. Bridgewater Associates LP raised its holdings in Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after purchasing an additional 165,791 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Robinhood Markets by 8.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock worth $51,024,000 after purchasing an additional 177,395 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares of the company’s stock, valued at $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,655 shares of company stock valued at $143,072,448 in the last three months. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $41.92 on Friday. The company has a market capitalization of $37.12 billion, a PE ratio of 26.70, a PEG ratio of 1.05 and a beta of 2.14. The company’s 50 day moving average price is $49.16 and its 200 day moving average price is $38.06. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HOOD. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target for the company. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $60.82.

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.