Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. Creative Financial Designs Inc. ADV grew its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the period. Harbour Investments Inc. grew its holdings in shares of Robinhood Markets by 81.9% during the 4th quarter. Harbour Investments Inc. now owns 2,676 shares of the company's stock worth $100,000 after purchasing an additional 1,205 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $314,000. Natixis Advisors LLC raised its holdings in Robinhood Markets by 9.7% in the 4th quarter. Natixis Advisors LLC now owns 37,261 shares of the company's stock valued at $1,388,000 after buying an additional 3,281 shares during the period. Finally, Poinciana Advisors Group LLC acquired a new position in Robinhood Markets in the fourth quarter valued at about $212,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $61.29.

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Robinhood Markets Stock Down 0.4 %

Robinhood Markets stock traded down $0.21 during mid-day trading on Tuesday, hitting $48.15. The company had a trading volume of 43,260,949 shares, compared to its average volume of 35,337,203. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The business has a fifty day moving average of $49.22 and a 200 day moving average of $37.61. The stock has a market cap of $42.63 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.05 and a beta of 2.14.

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

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the transaction, the chief technology officer now owns 11,706 shares of the company's stock, valued at $507,572.16. The trade was a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total value of $1,225,500.00. Following the completion of the sale, 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. Over the last 90 days, insiders have sold 2,685,104 shares of company stock worth $131,233,346. Corporate insiders own 19.95% of the company's stock.

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.