16,290 Shares in Robinhood Markets, Inc. $HOOD Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,290 shares of the company's stock, valued at approximately $1,525,000.

Several other hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC boosted its holdings in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock worth $620,000 after buying an additional 148 shares during the period. Cigna Investments Inc. New boosted its holdings in Robinhood Markets by 2.7% in the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after buying an additional 174 shares during the period. Hemington Wealth Management boosted its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Farther Finance Advisors LLC boosted its holdings in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares during the period. Finally, Allworth Financial LP boosted its holdings in Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after buying an additional 266 shares during the period. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 2.0%

Shares of NASDAQ:HOOD opened at $148.67 on Friday. Robinhood Markets, Inc. has a 12 month low of $22.61 and a 12 month high of $150.21. The company has a 50-day moving average price of $114.45 and a 200 day moving average price of $82.33. The company has a market cap of $132.12 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 4.05 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the firm earned $0.21 EPS. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $124.13, for a total value of $727,898.32. Following the sale, the chief technology officer directly owned 17,816 shares of the company's stock, valued at $2,211,500.08. This represents a 24.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares in the company, valued at $61,656,973.08. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,656,462 shares of company stock worth $614,224,917 over the last three months. 14.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on HOOD. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a report on Saturday, September 27th. KeyCorp increased their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Mizuho increased their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Finally, Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $113.59.

About Robinhood Markets

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.

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