Forum Financial Management LP Acquires 134 Shares of Robinhood Markets, Inc. $HOOD

Forum Financial Management LP raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,997 shares of the company’s stock after purchasing an additional 134 shares during the period. Forum Financial Management LP’s holdings in Robinhood Markets were worth $1,685,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. WCM Investment Management LLC boosted its holdings in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Robinhood Markets in the 2nd quarter valued at $951,479,000. AGF Management Ltd. boosted its holdings in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after acquiring an additional 131,620 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,763,124 shares of company stock valued at $524,708,595. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Trading Down 3.5%

HOOD stock opened at $127.22 on Thursday. The firm’s 50-day moving average price is $122.43 and its two-hundred day moving average price is $90.88. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The stock has a market capitalization of $113.06 billion, a price-to-earnings ratio of 64.58, a PEG ratio of 3.48 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on HOOD shares. Bank of America lifted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. KeyCorp lifted 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Citigroup lifted their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.94.

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.