Meiji Yasuda Life Insurance Co Reduces Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Meiji Yasuda Life Insurance Co lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,770 shares of the company’s stock after selling 10,430 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Robinhood Markets were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Robinhood Markets by 12.5% during the fourth quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock valued at $753,000 after purchasing an additional 6,551 shares during the last quarter. Jump Financial LLC raised its stake in shares of Robinhood Markets by 86.6% in the fourth quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock worth $315,000 after buying an additional 11,462 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Robinhood Markets by 26.9% during the 4th quarter. QRG Capital Management Inc. now owns 13,310 shares of the company’s stock valued at $170,000 after buying an additional 2,821 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Robinhood Markets by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock valued at $59,559,000 after acquiring an additional 672,648 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Robinhood Markets by 37.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 32,382 shares of the company’s stock worth $413,000 after purchasing an additional 8,796 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. KeyCorp boosted their price target on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and increased their target price for the company from $21.00 to $24.00 in a research report on Thursday, August 15th. Piper Sandler upgraded Robinhood Markets from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $23.00 in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Hold” and a consensus target price of $22.83.

Insider Activity

In other news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 120,236 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,204,096 shares of company stock worth $23,603,793. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

HOOD opened at $22.95 on Thursday. The company has a market cap of $20.17 billion, a PE ratio of 153.00 and a beta of 1.82. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The firm has a 50 day moving average price of $20.55 and a 200 day moving average price of $19.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current 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.