Forefront Wealth Management Inc. Makes New $1.68 Million Investment in Robinhood Markets, Inc. $HOOD

Forefront Wealth Management Inc. purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOODFree Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,757 shares of the company’s stock, valued at approximately $1,683,000. Robinhood Markets comprises approximately 1.2% of Forefront Wealth Management Inc.’s portfolio, making the stock its 28th biggest position.

Other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $29,000. Twin Peaks Wealth Advisors LLC purchased a new position in Robinhood Markets in the second quarter worth $34,000. Finally, V Square Quantitative Management LLC bought a new position in Robinhood Markets in the second quarter valued at $36,000. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the sale, the insider directly owned 54,496 shares in the company, valued at $7,147,150.40. The trade was a 47.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,296,763 shares of company stock worth $414,016,996 in the last ninety days. Insiders own 14.47% of the company’s stock.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

Robinhood Markets Trading Down 1.5%

Robinhood Markets stock opened at $108.74 on Friday. The firm has a market cap of $97.78 billion, a P/E ratio of 45.12, a P/E/G ratio of 1.75 and a beta of 2.44. 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 $121.17 and a 200-day moving average of $119.07.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Argus initiated coverage on Robinhood Markets in a research report on Friday, January 9th. They issued a “buy” rating and a $145.00 target price for the company. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Finally, Barclays reduced their target price on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $136.62.

Read Our Latest Stock Report on HOOD

Robinhood Markets Company Profile

(Free Report)

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.

Further Reading

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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