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

CIBC Asset Management Inc boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,906 shares of the company’s stock after buying an additional 1,175 shares during the period. CIBC Asset Management Inc’s holdings in Robinhood Markets were worth $853,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank bought a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. Finally, Silicon Valley Capital Partners bought a new stake in Robinhood Markets in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $51.60 on Friday. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. The firm has a 50 day simple moving average of $47.42 and a 200 day simple moving average of $33.92. Robinhood Markets, Inc. has a one year low of $13.59 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS 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 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,520,607 shares of company stock valued at $200,784,430 in the last quarter. Insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

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.