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

Key Points

• CIBC Asset Management increased its Robinhood stake by 73.7% in the fourth quarter, buying 78,077 additional shares and bringing its total to 184,052 shares worth about $20.8 million.
• Robinhood has been seeing mixed but generally supportive analyst and insider activity: Goldman Sachs raised its price target to $105, and Director Meyer Malka made another large purchase of 181,000 shares for about $15.1 million.
• The company’s latest results showed revenue growth but a slight earnings miss, with Q1 revenue up 15.1% year over year to $1.07 billion while EPS of $0.38 came in one cent below estimates.

CIBC Asset Management Inc raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 73.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,052 shares of the company's stock after acquiring an additional 78,077 shares during the period. CIBC Asset Management Inc's holdings in Robinhood Markets were worth $20,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of HOOD. Evolution Wealth Advisors LLC grew its position in Robinhood Markets by 5.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company's stock valued at $217,000 after buying an additional 95 shares in the last quarter. CogentBlue Wealth Advisors LLC raised its position in shares of Robinhood Markets by 4.1% during the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company's stock worth $282,000 after buying an additional 98 shares in the last quarter. Vision Financial Markets LLC lifted its stake in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company's stock worth $29,000 after acquiring an additional 100 shares during the period. Kovack Advisors Inc. boosted its holdings in shares of Robinhood Markets by 2.5% in the third quarter. Kovack Advisors Inc. now owns 4,121 shares of the company's stock valued at $590,000 after acquiring an additional 100 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its holdings in shares of Robinhood Markets by 11.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company's stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Goldman Sachs raised its price target on Robinhood Markets (HOOD) to $105 from $95 and kept a Buy rating, reinforcing a more bullish valuation view. Benzinga article
• Positive Sentiment: Robinhood expanded its wealth-management push through TradePMR with an advisor network, client referral tools, AI capabilities, lending perks, and broader investment access for RIAs, which could help grow higher-value revenue streams. Yahoo Finance article
• Positive Sentiment: Director Meyer Malka made another large insider purchase, buying 181,000 shares for about $15.1 million, a sign of confidence from a key insider. MarketBeat insider trade report

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the transaction, the insider owned 432,849 shares of the company's stock, valued at approximately $33,281,759.61. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 249,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $80.39 per share, for a total transaction of $20,017,110.00. Following the acquisition, the director owned 3,493,427 shares in the company, valued at approximately $280,836,596.53. This trade represents a 7.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 550,765 shares of company stock worth $40,191,940 over the last three months. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $88.33 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 fifty day moving average of $77.90 and a 200-day moving average of $93.10. The company has a market capitalization of $79.54 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 2.48 and a beta of 2.35.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Sanford C. Bernstein reissued an "outperform" rating and set a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. KeyCorp reaffirmed an "overweight" rating and set a $100.00 price target on shares of Robinhood Markets in a research note on Monday. Morgan Stanley lowered their price target on Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Needham & Company LLC dropped their price objective on Robinhood Markets from $95.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Finally, Piper Sandler cut their price objective on Robinhood Markets from $155.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, February 11th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.54.

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.

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