The Goldman Sachs Group Lowers Robinhood Markets (NASDAQ:HOOD) Price Target to $22.00

Robinhood Markets (NASDAQ:HOOD) had its price objective cut by The Goldman Sachs Group from $25.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. JMP Securities raised their price objective on shares of Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Citigroup increased their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.17.

Robinhood Markets Stock Up 1.5 %

Shares of NASDAQ:HOOD opened at $24.32 on Friday. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58. The firm has a market cap of $21.52 billion, a P/E ratio of 41.22 and a beta of 1.83. The company’s 50-day moving average price is $23.51 and its two-hundred day moving average price is $21.51.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. As a group, equities analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,389,654 shares of company stock valued at $106,229,132. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Signaturefd LLC increased its position in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares during the period. Castleview Partners LLC raised its stake in Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after purchasing an additional 598 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares during the period. Institutional investors 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.