FORA Capital LLC Purchases New Shares 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 its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 175,163 shares of the company’s stock, valued at approximately $4,102,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HOOD. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $33,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $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, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the sale, the director now directly owns 28,930,243 shares in the company, valued at $867,907,290. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold 4,685,549 shares of company stock worth $114,953,194 over the last three months. 19.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on HOOD. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC raised 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. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $24.00 to $55.00 in a report on Monday. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $30.59.

Robinhood Markets Stock Up 4.0 %

Shares of Robinhood Markets stock traded up $1.45 on Wednesday, reaching $37.87. The company’s stock had a trading volume of 3,438,944 shares, compared to its average volume of 16,291,819. Robinhood Markets, Inc. has a 52 week low of $8.35 and a 52 week high of $39.74. The firm’s fifty day simple moving average is $27.27 and its two-hundred day simple moving average is $23.14. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of 61.73, a P/E/G ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, research analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

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.