Cantor Fitzgerald Has Lowered Expectations for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price lowered by Cantor Fitzgerald from $130.00 to $115.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 32.86% from the stock’s previous close.

A number of other analysts also recently issued reports on HOOD. Citizens Jmp restated a “market outperform” rating and set a $155.00 price target on shares of Robinhood Markets in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Jefferies Financial Group decreased their price target on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Zacks Research raised Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.52.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $86.56 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $98.02 and its 200-day simple moving average is $87.42. The company has a market cap of $77.95 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 1.80 and a beta of 2.35. Robinhood Markets has a 1-year low of $63.51 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. Robinhood Markets’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, equities research analysts anticipate that Robinhood Markets will post 2 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the completion of the transaction, the insider owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the acquisition, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 621,263 shares worth $66,024,957. Corporate insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after buying an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new position in Robinhood Markets during the 4th quarter worth $1,202,160,000. Amundi increased its position in shares of Robinhood Markets by 89.0% in the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after purchasing an additional 3,007,103 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Robinhood Markets by 5,221.4% in the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock valued at $289,519,000 after purchasing an additional 2,511,743 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Robinhood Markets by 95.7% during the fourth quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock worth $499,001,000 after purchasing an additional 2,157,372 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.