FORA Capital LLC Sells 112,416 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• FORA Capital LLC reduced its holdings in Robinhood Markets, Inc. by 38.3%, selling 112,416 shares and now owning 181,348 shares, which represents 0.8% of its portfolio.
• Several institutional investors have increased their stakes in Robinhood, with TD Private Client Wealth LLC raising its stake by 184.4% during the same period.
• Analysts have recently raised their price targets for Robinhood, with KeyCorp and Morgan Stanley both setting new targets at $110.00, reflecting a bullish outlook on the stock's performance.

FORA Capital LLC lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 38.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,348 shares of the company's stock after selling 112,416 shares during the period. Robinhood Markets makes up about 0.8% of FORA Capital LLC's holdings, making the stock its 23rd biggest position. FORA Capital LLC's holdings in Robinhood Markets were worth $7,548,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after acquiring an additional 171 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in the last quarter. Allworth Financial LP grew its holdings in Robinhood Markets by 23.4% during the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after buying an additional 266 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Robinhood Markets by 0.8% in the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock valued at $1,520,000 after purchasing an additional 272 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the transaction, the insider owned 566,887 shares in the company, valued at $59,086,632.01. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,644,685 shares of company stock worth $448,881,884. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $0.77 during trading on Thursday, hitting $103.69. The company's stock had a trading volume of 25,978,086 shares, compared to its average volume of 41,665,436. The company has a fifty day simple moving average of $100.68 and a two-hundred day simple moving average of $69.18. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70. The company has a market capitalization of $92.15 billion, a PE ratio of 68.61, a P/E/G ratio of 3.77 and a beta of 2.36.

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

Analyst Ratings Changes

Several research firms have weighed in on HOOD. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Needham & Company LLC increased their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley upped their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

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.