FORA Capital LLC Has $8.41 Million Holdings in Robinhood Markets, Inc. $HOOD

FORA Capital LLC decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 50.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 89,824 shares of the company’s stock after selling 91,524 shares during the period. Robinhood Markets accounts for about 0.9% of FORA Capital LLC’s investment portfolio, making the stock its 20th biggest holding. FORA Capital LLC’s holdings in Robinhood Markets were worth $8,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI grew its holdings in shares of Robinhood Markets by 32.3% in the first quarter. National Bank of Canada FI now owns 3,518 shares of the company’s stock valued at $146,000 after acquiring an additional 859 shares in the last quarter. Townsquare Capital LLC raised its holdings in Robinhood Markets by 45.1% during the 1st quarter. Townsquare Capital LLC now owns 14,696 shares of the company’s stock valued at $612,000 after acquiring an additional 4,571 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Robinhood Markets during the first quarter worth $1,038,000. HighTower Advisors LLC boosted its holdings in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after acquiring an additional 3,032 shares during the period. Finally, National Pension Service purchased a new stake in Robinhood Markets during the 1st quarter worth about $35,349,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $119.50 on Friday. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The firm has a 50-day moving average of $132.04 and a 200 day moving average of $112.04. The stock has a market cap of $107.45 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 2.40 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HOOD shares. Zacks Research upgraded Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. CICC Research assumed coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective for the company. JMP Securities lifted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Citizens Jmp boosted their target price on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.32.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,686,763 shares of company stock valued at $475,858,262 over the last three months. 14.47% of the stock is currently owned by company insiders.

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.