Robinhood Markets, Inc. (NASDAQ:HOOD) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,960 shares of the company’s stock after selling 1,744 shares during the period. Daiwa Securities Group Inc.’s holdings in Robinhood Markets were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HOOD. Peoples Bank KS purchased a new stake in shares of Robinhood Markets in the third quarter valued at $29,000. UniSuper Management Pty Ltd purchased a new stake in shares of Robinhood Markets in the third quarter valued at $30,000. Whittier Trust Co. lifted its holdings in shares of Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after purchasing an additional 2,317 shares in the last quarter. CWM LLC raised its holdings in shares of Robinhood Markets by 61.1% during the third quarter. CWM LLC now owns 8,488 shares of the company’s stock worth $83,000 after acquiring an additional 3,219 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $89,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of several recent research reports. Piper Sandler increased their price objective on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. Morgan Stanley increased their price objective on Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and an average price target of $18.88.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $17.88 on Friday. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of -29.80 and a beta of 1.69. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $20.55. The company’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $12.92.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In other news, insider Baiju Bhatt sold 188,077 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89. Following the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $489,130.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the sale, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89. Following the sale, the insider now directly owns 36,045 shares in the company, valued at $489,130.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,382,977 shares of company stock valued at $36,496,582. 20.81% of the stock is owned by insiders.

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.