Canada Pension Plan Investment Board Sells 159,169 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Canada Pension Plan Investment Board lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 48.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,227 shares of the company's stock after selling 159,169 shares during the quarter. Canada Pension Plan Investment Board's holdings in Robinhood Markets were worth $6,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HOOD. Dorsey & Whitney Trust CO LLC increased its stake in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. boosted its stake in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after buying an additional 277 shares in the last quarter. Spire Wealth Management grew its holdings in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after acquiring an additional 549 shares during the period. Allworth Financial LP grew its holdings in 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 acquiring an additional 643 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $26,000. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. Morgan Stanley downgraded shares of 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. JMP Securities dropped their price target on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating for the company. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Finally, Citigroup cut their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Price Performance

Shares of HOOD traded up $1.73 during trading hours on Friday, hitting $49.88. The stock had a trading volume of 20,501,122 shares, compared to its average volume of 24,751,482. The stock has a market capitalization of $44.17 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.05 and a beta of 2.17. The company's fifty day moving average is $43.71 and its two-hundred day moving average is $40.62. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

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

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Monday, January 27th. The shares were sold at an average price of $47.82, for a total transaction of $280,990.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 223,072 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the completion of the sale, the director now owns 7,863 shares of the company's stock, valued at approximately $324,270.12. This represents a 96.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,193,327 shares of company stock worth $107,903,039 over the last 90 days. Insiders own 19.95% of the company's stock.

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.