CIBC Private Wealth Group LLC Increases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

CIBC Private Wealth Group LLC lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,505 shares of the company’s stock after buying an additional 1,372 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Robinhood Markets were worth $184,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Norges Bank purchased a new position in Robinhood Markets in the fourth quarter valued at $329,598,000. GQG Partners LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at $302,325,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $34.51 on Monday. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm’s fifty day moving average price is $48.15 and its 200 day moving average price is $38.93. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,621,134 shares of company stock valued at $131,646,496. Corporate insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Barclays upped their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.24.

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.