Cibc World Market Inc. Cuts Stock Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Cibc World Market Inc. cut its Robinhood Markets stake by 63.2% in the fourth quarter, selling 130,001 shares and leaving it with 75,721 shares valued at about $8.56 million.
• Robinhood’s latest quarter showed mixed results: EPS came in at $0.38, missing estimates by $0.01, while revenue of $1.07 billion also fell short of expectations but still rose 15.1% year over year.
• Analysts remain mostly bullish on HOOD, with 19 Buy ratings and a consensus Moderate Buy rating; the average price target stands at $106.54.

Cibc World Market Inc. reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 63.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,721 shares of the company's stock after selling 130,001 shares during the period. Cibc World Market Inc.'s holdings in Robinhood Markets were worth $8,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sivia Capital Partners LLC boosted its holdings in shares of Robinhood Markets by 2.8% during the 4th quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company's stock worth $487,000 after purchasing an additional 117 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Robinhood Markets by 54.2% during the 4th quarter. REAP Financial Group LLC now owns 836 shares of the company's stock worth $95,000 after purchasing an additional 294 shares during the last quarter. WCG Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $7,194,000. CIBC Asset Management Inc boosted its holdings in shares of Robinhood Markets by 73.7% during the 4th quarter. CIBC Asset Management Inc now owns 184,052 shares of the company's stock worth $20,816,000 after purchasing an additional 78,077 shares during the last quarter. Finally, Kesler Norman & Wride LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $309,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD opened at $82.47 on Friday. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86. The stock has a market capitalization of $74.27 billion, a PE ratio of 39.84, a P/E/G ratio of 2.47 and a beta of 2.35. The business's 50 day moving average price is $78.09 and its 200 day moving average price is $93.03.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.85 earnings per share for the current fiscal year.

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

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the company's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $69.83, for a total value of $26,186,250.00. Following the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $26,186,250. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total value of $931,006.67. Following the completion of the transaction, the insider owned 81,989 shares in the company, valued at $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 571,602 shares of company stock valued at $41,959,746 in the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HOOD shares. Jefferies Financial Group lowered their target price on Robinhood Markets from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Monday, April 6th. KeyCorp restated an "overweight" rating and set a $100.00 target price on shares of Robinhood Markets in a report on Monday, June 1st. Sanford C. Bernstein restated an "outperform" rating and set a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Wall Street Zen cut Robinhood Markets from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Finally, Mizuho boosted their target price on Robinhood Markets from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Nineteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $106.54.

Robinhood Markets 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.

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