FORA Capital LLC Has $7.55 Million Stock Position in 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 trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 38.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,348 shares of the company's stock after selling 112,416 shares during the period. Robinhood Markets accounts for approximately 0.8% of FORA Capital LLC's holdings, making the stock its 23rd largest position. FORA Capital LLC's holdings in Robinhood Markets were worth $7,548,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management grew its position in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the 1st quarter worth $33,000. Finally, CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares during the period. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,818,493 shares of company stock worth $570,818,204. Insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent analyst reports. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. KeyCorp upped their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Morgan Stanley upped their price objective 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. Citigroup upped their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Up 0.3%

Robinhood Markets stock traded up $0.34 during mid-day trading on Friday, reaching $104.03. The company had a trading volume of 22,092,111 shares, compared to its average volume of 40,065,512. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70. The company has a 50 day moving average of $101.69 and a 200-day moving average of $69.95. The firm has a market cap of $92.45 billion, a price-to-earnings ratio of 52.81, a PEG ratio of 3.81 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results 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. 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 period in the prior year, the firm earned $0.21 EPS. The business's revenue was up 45.0% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.