Robinhood Markets (NASDAQ:HOOD) Given New $135.00 Price Target at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD) had its target price reduced by stock analysts at Needham & Company LLC from $145.00 to $135.00 in a report released on Monday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 14.28% from the stock’s previous close.

HOOD has been the topic of a number of other research reports. Bank of America dropped their price target on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research raised shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. JMP Securities increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Finally, Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.80.

Robinhood Markets Stock Down 1.9%

Robinhood Markets stock opened at $118.13 on Monday. The firm has a 50 day moving average price of $127.79 and a 200-day moving average price of $115.76. Robinhood Markets has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market capitalization of $106.22 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.16 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was 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 can be accessed through this link. Also, Director Baiju Bhatt sold 1,330,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The SEC filing for this sale provides additional information. Insiders sold 3,686,763 shares of company stock worth $475,848,059 over the last quarter. 14.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the period. Valley National Advisers Inc. boosted its stake in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Golden State Wealth Management LLC grew its position in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets in the 2nd quarter worth about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets in the 3rd quarter worth about $29,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Company Profile

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.