Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.8% during the 4th quarter, Holdings Channel reports. The firm owned 177,159 shares of the company’s stock after buying an additional 44,755 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Robinhood Markets were worth $2,257,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. DekaBank Deutsche Girozentrale lifted its stake in Robinhood Markets by 4.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Robinhood Markets by 3.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 29,314 shares of the company’s stock worth $296,000 after purchasing an additional 1,082 shares in the last quarter. Creative Planning increased its holdings in shares of Robinhood Markets by 6.1% in the 4th quarter. Creative Planning now owns 19,830 shares of the company’s stock worth $161,000 after buying an additional 1,146 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Robinhood Markets by 11.1% in the 2nd quarter. MetLife Investment Management LLC now owns 13,148 shares of the company’s stock worth $131,000 after buying an additional 1,315 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Robinhood Markets by 3.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 38,490 shares of the company’s stock worth $384,000 after buying an additional 1,342 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Citigroup downgraded shares of Robinhood Markets from a “neutral” rating to a “sell” rating and upped their price target for the company from $13.00 to $16.00 in a report on Thursday, April 11th. Barclays upped their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a report on Monday, April 8th. JMP Securities upped their target price on shares of Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.81.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.59, for a total transaction of $97,950.00. Following the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders sold 2,212,150 shares of company stock valued at $33,495,819 over the last 90 days. Insiders own 20.81% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $16.63 on Friday. The company has a 50 day moving average price of $16.93 and a 200-day moving average price of $12.66. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The stock has a market capitalization of $14.54 billion, a PE ratio of -27.72 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The firm had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. During the same quarter in the prior year, the company earned ($0.19) EPS. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts forecast that Robinhood Markets, Inc. will post 0.29 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.