Robinhood Markets, Inc. $HOOD Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 63.2% during the fourth quarter, Holdings Channel reports. The firm owned 75,721 shares of the company’s stock after selling 130,001 shares during the quarter. Cibc World Market Inc.’s holdings in Robinhood Markets were worth $8,564,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Caisse Des Depots ET Consignations purchased a new stake in Robinhood Markets during the 3rd quarter worth about $3,984,000. Aberdeen Group plc increased its holdings in Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after purchasing an additional 157,643 shares during the period. NEOS Investment Management LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth about $11,994,000. Truist Financial Corp increased its holdings in Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares during the period. Finally, New York Life Investment Management LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth about $14,989,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Citizens Jmp restated a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a report on Thursday, May 28th. Zacks Research downgraded Robinhood Markets from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. Truist Financial cut their price target on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price target on shares of Robinhood Markets in a report on Wednesday, April 29th. Finally, Piper Sandler cut their price target on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.54.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the transaction, the insider owned 81,989 shares of the company’s stock, valued at $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 571,602 shares of company stock valued at $41,959,746 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $82.47 on Friday. The firm has a market capitalization of $74.27 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The business’s fifty day moving average price is $78.09 and its 200 day moving average price is $93.03. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.85 EPS for the current year.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.