Cibc World Markets Corp Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cibc World Markets Corp decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.5% during the fourth quarter, HoldingsChannel.com reports. 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.

Several other institutional investors and hedge funds have also made changes to their positions in the business. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. Creative Financial Designs Inc. ADV grew its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Silicon Valley Capital Partners bought a new position in Robinhood Markets in the 4th quarter worth about $37,000. Finally, Bogart Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,979,251 shares of company stock valued at $142,232,560. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $44.36 on Friday. The business’s 50-day moving average is $49.04 and its 200 day moving average is $37.16. 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 $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.