CIBC Asset Management Inc Has $853,000 Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

CIBC Asset Management Inc lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,906 shares of the company’s stock after purchasing an additional 1,175 shares during the quarter. CIBC Asset Management Inc’s holdings in Robinhood Markets were worth $853,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC increased its position in shares of Robinhood Markets by 3.6% during the fourth quarter. Sanctuary Advisors LLC now owns 65,500 shares of the company’s stock worth $2,441,000 after buying an additional 2,284 shares during the period. Principal Financial Group Inc. increased its position in shares of Robinhood Markets by 170.7% during the fourth quarter. Principal Financial Group Inc. now owns 116,732 shares of the company’s stock worth $4,349,000 after buying an additional 73,607 shares during the period. Capital Performance Advisors LLP increased its position in shares of Robinhood Markets by 224.3% during the fourth quarter. Capital Performance Advisors LLP now owns 7,086 shares of the company’s stock worth $264,000 after buying an additional 4,901 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Robinhood Markets by 11.7% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 13,750 shares of the company’s stock worth $512,000 after buying an additional 1,435 shares during the period. Finally, Allworth Financial LP increased its position in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after buying an additional 643 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Piper Sandler increased their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Barclays increased their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $51.60 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $13.59 and a fifty-two week high of $66.91. The stock has a market cap of $45.61 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The firm’s 50-day simple moving average is $47.42 and its 200 day simple moving average is $33.92.

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

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,520,607 shares of company stock worth $200,784,430. 19.95% of the stock is owned by insiders.

Robinhood Markets Company 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.