Meiji Yasuda Asset Management Co Ltd. Makes New $257,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

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

A number of other institutional investors have also modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter worth $26,000. Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares in the last quarter. Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $37,000. Finally, Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $41.92 on Friday. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a fifty day moving average price of $49.16 and a two-hundred day moving average price of $38.06. The company 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HOOD shares. Needham & Company LLC dropped their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday. Barclays boosted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Finally, JMP Securities raised their price objective on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is currently 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.