Bank of America Cuts Robinhood Markets (NASDAQ:HOOD) Price Target to $154.00

Robinhood Markets (NASDAQ:HOOD) had its target price lowered by Bank of America from $166.00 to $154.00 in a report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

HOOD has been the topic of a number of other research reports. Zacks Research upgraded shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. Mizuho raised their target price on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Citizens Jmp upped their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.32.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $119.50 on Wednesday. Robinhood Markets has a 1 year low of $29.66 and a 1 year high of $153.86. The business’s 50-day moving average is $132.04 and its 200-day moving average is $111.72. The company has a market capitalization of $107.45 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 2.48 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up 100.0% on a year-over-year basis. Analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $128.47, for a total value of $170,865,100.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,686,763 shares of company stock worth $475,858,262 in the last quarter. 14.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of HOOD. Polar Asset Management Partners Inc. purchased a new stake in shares of Robinhood Markets in the third quarter valued at about $1,002,000. Cambria Investment Management L.P. boosted its holdings in Robinhood Markets by 63.1% during the third quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock worth $2,199,000 after purchasing an additional 5,943 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Robinhood Markets in the 3rd quarter worth about $15,056,000. Tcfg Wealth Management LLC increased its stake in Robinhood Markets by 35.0% in the 3rd quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock valued at $519,000 after buying an additional 941 shares during the last quarter. Finally, WBI Investments LLC bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $1,431,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

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.