Robinhood Markets, Inc. $HOOD Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 229.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,975 shares of the company’s stock after acquiring an additional 73,820 shares during the quarter. CIBC Asset Management Inc’s holdings in Robinhood Markets were worth $15,174,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC bought a new position in shares of Robinhood Markets during the third quarter worth about $322,823,000. Coordinated Financial Services Inc. bought a new position in Robinhood Markets during the 2nd quarter worth approximately $403,000. Venture Visionary Partners LLC grew its position in shares of Robinhood Markets by 63.0% in the 2nd quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock worth $11,743,000 after acquiring an additional 48,494 shares in the last quarter. Allstate Corp acquired a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $3,860,000. Finally, New Wave Wealth Advisors LLC increased its holdings in shares of Robinhood Markets by 479.4% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 13,331 shares of the company’s stock valued at $1,909,000 after acquiring an additional 11,030 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial initiated coverage on Robinhood Markets in a research note on Wednesday, December 17th. They set a “buy” rating and a $155.00 price objective on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Robinhood Markets in a research report on Monday, January 5th. Loop Capital set a $152.00 price objective on shares of Robinhood Markets in a research report on Thursday, December 11th. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.62.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the transaction, the insider owned 430,012 shares in the company, valued at approximately $56,817,485.56. This trade represents a 21.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,872,561 shares of company stock valued at $357,470,545. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $107.00 on Tuesday. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The stock’s fifty day moving average is $118.77 and its 200-day moving average is $119.93. The firm has a market capitalization of $96.21 billion, a price-to-earnings ratio of 44.40, a price-to-earnings-growth ratio of 1.67 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

About Robinhood Markets

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.