Forum Financial Management LP Sells 659 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Forum Financial Management LP lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,124 shares of the company’s stock after selling 659 shares during the quarter. Forum Financial Management LP’s holdings in Robinhood Markets were worth $675,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GeoWealth Management LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $53,000. Alpha DNA Investment Management LLC bought a new stake in shares of Robinhood Markets in the fourth quarter valued at $774,000. Strategic Investment Solutions Inc. IL lifted its position in shares of Robinhood Markets by 170,425.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 6,821 shares of the company’s stock valued at $254,000 after buying an additional 6,817 shares during the last quarter. Farringdon Capital Ltd. bought a new position in shares of Robinhood Markets during the 4th quarter worth $219,000. Finally, Jump Financial LLC increased its holdings in Robinhood Markets by 76.5% in the 4th quarter. Jump Financial LLC now owns 537,723 shares of the company’s stock worth $20,036,000 after acquiring an additional 233,122 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of several recent research reports. Compass Point assumed coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup dropped their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Barclays decreased their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $41.18 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a fifty day moving average of $45.22 and a 200-day moving average of $40.17. The company has a market capitalization of $36.46 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $255,478.14. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,784,193 shares of company stock valued at $137,892,219 over the last quarter. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets 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.