Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 609,417 shares of the company’s stock after purchasing an additional 89,632 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Robinhood Markets worth $25,199,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Azora Capital LP purchased a new position in Robinhood Markets in the 3rd quarter valued at approximately $79,780,000. FMR LLC grew its stake in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $90,869,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Robinhood Markets by 486.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock valued at $103,906,000 after acquiring an additional 2,313,213 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. Barclays upped their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities raised their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Compass Point assumed coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Finally, KeyCorp increased their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $41.92 on Monday. The firm’s fifty day moving average is $49.16 and its two-hundred day moving average is $38.32. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The firm has a market cap of $37.12 billion, a PE ratio of 26.70, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,955,655 shares of company stock valued at $143,072,448. Company insiders own 19.95% of the company’s stock.

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.