Cibc World Markets Corp Sells 6,624 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Cibc World Markets Corp trimmed its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,167 shares of the company’s stock after selling 6,624 shares during the quarter. Cibc World Markets Corp’s holdings in Robinhood Markets were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank grew its position in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the period. IFP Advisors Inc lifted its position in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets during the fourth quarter valued at about $634,000. Charles Schwab Investment Management Inc. grew its holdings in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. increased its position in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD opened at $44.36 on Friday. The stock has a market capitalization of $39.28 billion, a PE ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. The company’s fifty day moving average is $49.04 and its 200 day moving average is $37.16. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOOD. Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday. They set a “buy” rating and a $61.00 price objective on the stock. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now directly owns 822,893 shares of the company’s stock, valued at $40,338,214.86. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,979,251 shares of company stock worth $142,232,560 over the last ninety days. Company insiders own 19.95% of the company’s stock.

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.