Canada Pension Plan Investment Board Has $6.42 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Canada Pension Plan Investment Board trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 48.0% during the fourth quarter, Holdings Channel reports. The institutional investor 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 SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets in the 4th quarter valued at $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets during the 4th quarter valued at $152,949,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.06.

Robinhood Markets Stock Down 3.2 %

Shares of HOOD opened at $39.85 on Tuesday. The business’s 50-day moving average price is $44.89 and its 200-day moving average price is $40.41. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $35.29 billion, a PE ratio of 25.38, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,784,193 shares of company stock worth $137,892,219. Corporate insiders own 19.95% of the company’s stock.

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.