SBI Securities Co. Ltd. Invests $1.37 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

SBI Securities Co. Ltd. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, HoldingsChannel reports. The fund acquired 36,882 shares of the company’s stock, valued at approximately $1,374,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Jones Financial Companies Lllp boosted its stake in Robinhood Markets by 1,631.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company’s stock valued at $129,000 after acquiring an additional 3,263 shares during the period. Smartleaf Asset Management LLC boosted its position in Robinhood Markets by 157.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,697 shares of the company’s stock valued at $103,000 after purchasing an additional 1,649 shares during the period. Pathway Capital Management LP acquired a new position in Robinhood Markets during the 4th quarter valued at approximately $8,104,000. Metis Global Partners LLC bought a new position in Robinhood Markets during the 4th quarter worth $276,000. Finally, West Michigan Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter worth $299,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,624,018 shares of company stock valued at $206,917,425 over the last ninety days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 2.7 %

Shares of HOOD stock opened at $50.10 on Monday. The stock has a 50-day simple moving average of $48.34 and a 200 day simple moving average of $35.11. The stock has a market capitalization of $44.36 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

HOOD has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JMP Securities boosted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Barclays raised their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Needham & Company LLC raised their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.53.

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.