Mizuho Markets Americas LLC Purchases New Shares in Robinhood Markets, Inc. $HOOD

Mizuho Markets Americas LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 200,000 shares of the company’s stock, valued at approximately $22,620,000.

Other hedge funds also recently made changes to their positions in the company. Caisse Des Depots ET Consignations bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $3,984,000. Aberdeen Group plc raised its stake in Robinhood Markets by 565.1% during the third quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock valued at $26,565,000 after buying an additional 157,643 shares during the last quarter. Jennison Associates LLC purchased a new position in Robinhood Markets during the third quarter valued at $322,823,000. NEOS Investment Management LLC purchased a new position in Robinhood Markets during the third quarter valued at $11,994,000. Finally, New York Life Investment Management LLC purchased a new position in Robinhood Markets during the third quarter valued at $14,989,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

HOOD stock opened at $73.64 on Friday. Robinhood Markets, Inc. has a 1-year low of $62.63 and a 1-year high of $153.86. The business has a fifty day moving average price of $76.11 and a 200-day moving average price of $96.47. The stock has a market capitalization of $66.31 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.46 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of Robinhood Markets stock in a transaction on Monday, April 27th. The stock was sold at an average price of $83.92, for a total value of $489,673.20. Following the completion of the sale, the chief technology officer owned 12,171 shares of the company’s stock, valued at $1,021,390.32. The trade was a 32.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 5,436 shares of Robinhood Markets stock in a transaction on Friday, May 15th. The stock was sold at an average price of $77.36, for a total value of $420,528.96. Following the completion of the sale, the chief financial officer directly owned 47,311 shares of the company’s stock, valued at $3,659,978.96. The trade was a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 560,765 shares of company stock valued at $40,946,840 over the last ninety days. 14.47% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on HOOD. Barclays lowered their price objective on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen cut Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of Robinhood Markets in a research note on Wednesday, April 29th. KeyCorp lowered their price objective on Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Argus lowered their price objective on Robinhood Markets from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.88.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.