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

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

Other equities analysts also recently issued reports about the company. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. CICC Research started coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target for the company. Citizens Jmp increased their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Finally, Mizuho lifted their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. 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 stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $136.79.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $135.66 on Wednesday. The stock has a market cap of $121.98 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 3.05 and a beta of 2.43. Robinhood Markets has a 1 year low of $29.66 and a 1 year high of $153.86. The firm has a fifty day moving average price of $133.07 and a 200-day moving average price of $111.25.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.17 EPS. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. On average, research analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the transaction, the insider directly owned 430,012 shares in the company, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,686,763 shares of company stock valued at $475,858,262. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. acquired a new stake in shares of Robinhood Markets during the third quarter worth $1,002,000. Cambria Investment Management L.P. grew its position 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 valued at $2,199,000 after buying an additional 5,943 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Robinhood Markets in the third quarter valued at approximately $15,056,000. Tcfg Wealth Management LLC increased its holdings in Robinhood Markets by 35.0% in the 3rd quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock worth $519,000 after acquiring an additional 941 shares in the last quarter. Finally, WBI Investments LLC purchased a new position in Robinhood Markets in the 3rd quarter valued at about $1,431,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.