Robinhood Markets (NASDAQ:HOOD) Given New $120.00 Price Target at Cantor Fitzgerald

Robinhood Markets (NASDAQ:HOOD) had its price target lowered by Cantor Fitzgerald from $150.00 to $120.00 in a report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on the company. Barclays reduced their price objective on Robinhood Markets from $132.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. China Renaissance initiated coverage on Robinhood Markets in a research report on Tuesday, July 7th. They issued a “buy” rating and a $156.80 target price for the company. BTIG Research reiterated a “buy” rating and set a $135.00 price target on shares of Robinhood Markets in a research note on Wednesday, October 28th. Citizens Jmp restated a “market outperform” rating and issued a $165.00 price objective on shares of Robinhood Markets in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Robinhood Markets from $115.00 to $114.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.45.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $84.99 on Friday. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $150.47. The firm’s fifty day simple moving average is $108.49 and its 200 day simple moving average is $93.04. The firm has a market capitalization of $76.41 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 1.78 and a beta of 2.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. As a group, sell-side analysts predict that Robinhood Markets will post 2.18 EPS for the current year.

Insiders Place Their Bets

In related news, insider Daniel Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the completion of the sale, the insider owned 499,943 shares in the company, valued at $56,848,518.53. This trade represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $113.72, for a total transaction of $42,645,000.00. Following the transaction, the chief executive officer directly owned 375,000 shares of the company’s stock, valued at $42,645,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,081,347 shares of company stock worth $127,543,680 in the last quarter. 13.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its holdings in Robinhood Markets by 0.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,405 shares of the company’s stock worth $3,083,000 after acquiring an additional 102 shares during the last quarter. Lake Street Private Wealth LLC lifted its position in shares of Robinhood Markets by 0.3% during the third quarter. Lake Street Private Wealth LLC now owns 43,899 shares of the company’s stock worth $4,939,000 after purchasing an additional 114 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Robinhood Markets by 11.9% during the second quarter. Parkside Financial Bank & Trust now owns 1,089 shares of the company’s stock worth $109,000 after purchasing an additional 116 shares in the last quarter. Root Financial Partners LLC grew its stake in shares of Robinhood Markets by 5.4% during the third quarter. Root Financial Partners LLC now owns 2,510 shares of the company’s stock valued at $282,000 after purchasing an additional 129 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Robinhood Markets by 2.5% in the third quarter. Brookstone Capital Management now owns 5,230 shares of the company’s stock valued at $588,000 after purchasing an additional 129 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

About Robinhood Markets

Robinhood Markets, Inc is a financial services company that operates a digital brokerage platform. Founded in 2013 by Vlad Tenev and Baiju Bhatt, the company became known for offering commission-free trading and a mobile-first investing experience designed to broaden access to financial markets.

Through its platform, Robinhood provides brokerage services for stocks, exchange-traded funds, options and other investments. Its offerings also include cryptocurrency trading, individual retirement accounts, margin investing, cash management services and Robinhood Gold, a subscription-based product that provides additional features and benefits.