Nikko Asset Management Americas Inc. Has $615.13 Million Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Nikko Asset Management Americas Inc. reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,513,608 shares of the company’s stock after selling 5,392,069 shares during the period. Robinhood Markets makes up 6.7% of Nikko Asset Management Americas Inc.’s holdings, making the stock its largest position. Nikko Asset Management Americas Inc. owned approximately 1.87% of Robinhood Markets worth $615,132,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC boosted its position in Robinhood Markets by 286.5% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 36,279 shares of the company’s stock worth $1,352,000 after purchasing an additional 26,893 shares in the last quarter. Signaturefd LLC increased its stake in Robinhood Markets by 77.1% during the fourth quarter. Signaturefd LLC now owns 6,087 shares of the company’s stock worth $227,000 after acquiring an additional 2,650 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Robinhood Markets by 81.9% during the fourth quarter. Harbour Investments Inc. now owns 2,676 shares of the company’s stock worth $100,000 after buying an additional 1,205 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter worth $314,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,985,127 shares of company stock valued at $142,455,378. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HOOD shares. Needham & Company LLC lifted their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Trading Up 8.9 %

Shares of HOOD stock opened at $39.24 on Monday. The firm’s 50 day moving average is $48.88 and its 200-day moving average is $36.61. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market capitalization of $34.75 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.