Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Lowered by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,227 shares of the company's stock after selling 159,169 shares during the quarter. Canada Pension Plan Investment Board's holdings in Robinhood Markets were worth $6,417,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $152,949,000. Finally, Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.82, for a total value of $280,990.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold 2,193,327 shares of company stock valued at $107,903,039 over the last ninety days. Corporate insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on HOOD. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Needham & Company LLC dropped their target price on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. JMP Securities reduced their price target on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $53.88.

Robinhood Markets Stock Up 7.8 %

Shares of NASDAQ HOOD traded up $3.49 on Thursday, hitting $48.15. The company had a trading volume of 42,349,253 shares, compared to its average volume of 24,687,383. The firm has a market capitalization of $42.63 billion, a P/E ratio of 30.67, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The business has a 50 day moving average of $44.05 and a two-hundred day moving average of $40.45.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.