Meiji Yasuda Life Insurance Co Sells 1,700 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Meiji Yasuda Life Insurance Co lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,200 shares of the company’s stock after selling 1,700 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Robinhood Markets were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Angeles Wealth Management LLC raised its holdings in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after buying an additional 610 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. Commerce Bank increased its holdings in Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares during the period. DekaBank Deutsche Girozentrale raised its position in Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after buying an additional 1,194 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods began coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective on the stock. Citigroup upped their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a research note on Thursday, June 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, June 20th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, The Goldman Sachs Group increased their price target on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.23.

Robinhood Markets Stock Up 0.8 %

NASDAQ HOOD traded up $0.17 during trading hours on Wednesday, reaching $20.57. 9,178,948 shares of the company were exchanged, compared to its average volume of 15,707,834. The stock has a market capitalization of $18.08 billion, a P/E ratio of 139.60 and a beta of 1.84. The business’s 50 day simple moving average is $22.12 and its 200-day simple moving average is $18.06. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. During the same period last year, the business posted ($0.57) earnings per share. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 120,236 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the transaction, the insider now owns 854,995 shares of the company’s stock, valued at approximately $15,244,560.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 120,236 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,642 shares of company stock worth $29,347,517 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

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.