Fortis Capital Advisors LLC Sells 7,169 Shares of Robinhood Markets, Inc. $HOOD

Fortis Capital Advisors LLC lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,121 shares of the company’s stock after selling 7,169 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Robinhood Markets were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HOOD. North Star Investment Management Corp. lifted its holdings in shares of Robinhood Markets by 44.9% in the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares during the last quarter. CogentBlue Wealth Advisors LLC lifted its stake in shares of Robinhood Markets by 3.8% in the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Robinhood Markets by 5.5% in the 3rd quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after purchasing an additional 97 shares during the period. Valley National Advisers Inc. increased 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 purchasing an additional 100 shares during the last quarter. Finally, HM Payson & Co. raised its holdings in Robinhood Markets by 8.5% during the 3rd quarter. HM Payson & Co. now owns 1,276 shares of the company’s stock valued at $183,000 after buying an additional 100 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $107.00 on Tuesday. The firm’s 50 day simple moving average is $118.77 and its 200-day simple moving average is $119.93. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The firm has a market cap of $96.21 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.67 and a beta of 2.44.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on HOOD shares. JMP Securities boosted their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Citizens Jmp increased their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research report on Monday, January 5th. Finally, CICC Research started coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,872,561 shares of company stock worth $357,470,545. Corporate insiders own 19.95% of the company’s stock.

About Robinhood Markets

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.