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

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,159 shares of the company’s stock after buying an additional 44,755 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Robinhood Markets were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the period. ARK Investment Management LLC boosted its holdings in Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Robinhood Markets by 6.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 26,688,681 shares of the company’s stock valued at $261,816,000 after purchasing an additional 1,648,874 shares during the period. BlackRock Inc. boosted its holdings in Robinhood Markets by 4.1% in the 2nd quarter. BlackRock Inc. now owns 23,981,614 shares of the company’s stock valued at $239,337,000 after purchasing an additional 943,515 shares during the period. Finally, State Street Corp boosted its holdings in Robinhood Markets by 9.2% in the 2nd quarter. State Street Corp now owns 8,333,375 shares of the company’s stock valued at $83,167,000 after purchasing an additional 701,836 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $2,652,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the 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 completion of the transaction, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,212,150 shares of company stock valued at $33,495,819. Insiders own 20.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on HOOD shares. Sanford C. Bernstein started coverage on shares of Robinhood Markets in a report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price target for the company. Piper Sandler lifted their price objective on shares of Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TheStreet raised shares of Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.81.

Robinhood Markets Stock Down 2.6 %

NASDAQ HOOD opened at $16.63 on Friday. The company has a 50-day simple moving average of $16.93 and a two-hundred day simple moving average of $12.66. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $20.55. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of -27.72 and a beta of 1.69.

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

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.