Robinhood Markets (NASDAQ:HOOD) Price Target Lowered to $135.00 at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD) had its price target cut by Needham & Company LLC from $145.00 to $135.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 14.28% from the stock’s current price.

A number of other analysts have also commented on HOOD. Truist Financial began coverage on Robinhood Markets in a research report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 target price for the company. Barclays raised their price objective on Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday, December 22nd. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Finally, Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.80.

Robinhood Markets Stock Down 1.9%

Robinhood Markets stock opened at $118.13 on Monday. The company has a market capitalization of $106.22 billion, a PE ratio of 49.02, a PEG ratio of 2.16 and a beta of 2.43. Robinhood Markets has a 12-month low of $29.66 and a 12-month high of $153.86. The firm’s fifty day moving average is $127.79 and its 200 day moving average is $115.76.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.17 earnings per share. The business’s quarterly revenue was up 100.0% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $122.39, for a total transaction of $717,694.96. Following the transaction, the chief technology officer directly owned 20,861 shares in the company, valued at $2,553,177.79. This represents a 21.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,686,763 shares of company stock valued at $475,848,059. 14.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its holdings in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Golden State Wealth Management LLC increased its position in shares of Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Vision Financial Markets LLC increased its position in shares of Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Robinhood Markets during the 3rd quarter worth $29,000. Finally, Guerra Advisors Inc bought a new stake in shares of Robinhood Markets during the 3rd quarter worth $30,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.