FORA Capital LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

FORA Capital LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 175,163 shares of the company’s stock, valued at approximately $4,102,000.

Other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank purchased a new stake in shares of Robinhood Markets during the third quarter worth $30,000. ORG Partners LLC bought a new position in shares of Robinhood Markets in the second quarter worth $33,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,685,549 shares of company stock worth $114,953,194. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

HOOD traded up $1.45 during midday trading on Wednesday, hitting $37.87. The stock had a trading volume of 3,438,944 shares, compared to its average volume of 16,291,819. The company has a market cap of $33.48 billion, a P/E ratio of 61.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.84. Robinhood Markets, Inc. has a 1 year low of $8.35 and a 1 year high of $39.74. The business has a fifty day moving average of $27.27 and a 200 day moving average of $23.14.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on HOOD. JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, November 18th. Finally, Citigroup increased their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $30.59.

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.