Bank of Montreal Can Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Bank of Montreal Can reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 79.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 107,383 shares of the company’s stock after selling 403,646 shares during the period. Bank of Montreal Can’s holdings in Robinhood Markets were worth $4,001,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV grew its position in Robinhood Markets by 750.0% during 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 stake in Robinhood Markets during the fourth quarter valued at about $37,000. Bogart Wealth LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $37,000. Finally, Spire Wealth Management grew its holdings in shares of 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total value of $4,604,180.22. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $255,478.14. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders have sold 2,561,121 shares of company stock worth $128,692,730 over the last ninety days. 19.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HOOD. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JMP Securities decreased their price target on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Morgan Stanley downgraded Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Tuesday, April 8th. Finally, Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $44.08 on Wednesday. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91. The company’s 50-day simple moving average is $46.06 and its 200-day simple moving average is $39.79.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 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%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS 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.