Robinhood Markets (NASDAQ:HOOD) Stock Gets Price Target Trim from Cantor Fitzgerald

Robinhood Markets (NASDAQ:HOOD) had its price objective cut by Cantor Fitzgerald from $150.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on HOOD. Needham & Company LLC reduced their price target on shares of Robinhood Markets from $126.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Robinhood Markets from $138.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Robinhood Markets in a research note on Tuesday, September 8th. Finally, Zacks Research upgraded shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $126.45.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $84.99 on Friday. The business’s 50 day simple moving average is $108.49 and its two-hundred day simple moving average is $93.04. The firm has a market cap of $76.41 billion, a P/E ratio of 39.17, a PEG ratio of 1.78 and a beta of 2.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. Robinhood Markets has a 52-week low of $63.51 and a 52-week high of $150.47.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.60 EPS for the quarter, beating the consensus estimate 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 return on equity of 21.49% and a net margin of 39.04%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, research analysts forecast that Robinhood Markets will post 2.18 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CFO Shiv Verma sold 11,472 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the completion of the sale, the chief financial officer owned 56,858 shares in the company, valued at approximately $6,278,260.36. This represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 50,912 shares of the stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $101.40, for a total value of $5,162,476.80. 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 valued at $127,543,680 over the last 90 days. Corporate insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. Sumitomo Mitsui Trust Group Inc. increased its stake in Robinhood Markets by 10.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,812,999 shares of the company’s stock valued at $472,141,000 after buying an additional 632,403 shares during the last quarter. Amundi lifted its position in shares of Robinhood Markets by 89.0% during the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after buying an additional 3,007,103 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in shares of Robinhood Markets by 15.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company’s stock worth $362,925,000 after buying an additional 685,041 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Robinhood Markets by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company’s stock worth $353,717,000 after buying an additional 1,668,400 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Robinhood Markets during the second quarter worth $379,695,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.