Bank of Montreal Can Has $4 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bank of Montreal Can reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 79.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,383 shares of the company's stock after selling 403,646 shares during the quarter. Bank of Montreal Can's holdings in Robinhood Markets were worth $4,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at about $26,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the period. Silicon Valley Capital Partners purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $37,000. Bogart Wealth LLC purchased a new stake in Robinhood Markets in the 4th quarter valued at $37,000. Finally, Spire Wealth Management boosted its stake in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.52 during midday trading on Friday, reaching $41.18. 23,885,589 shares of the company traded hands, compared to its average volume of 24,183,991. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a fifty day moving average price of $45.46 and a 200 day moving average price of $39.92. The firm has a market capitalization of $36.46 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company's stock, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business'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 sale, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $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. In the last quarter, insiders sold 2,784,193 shares of company stock worth $137,892,219. Corporate insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HOOD shares. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Mizuho raised their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. JMP Securities cut their target price on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, KeyCorp increased their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.06.

Robinhood Markets Company 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.