The Goldman Sachs Group Has Lowered Expectations for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price target reduced by equities research analysts at The Goldman Sachs Group from $25.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 8.22% from the company’s previous close.

Several other equities research analysts have also recently weighed in on HOOD. JMP Securities boosted their price target on shares of Robinhood Markets from $30.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday. Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Sandler upped their price objective on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.17.

Robinhood Markets Stock Up 2.0 %

HOOD opened at $23.97 on Friday. The company has a market capitalization of $21.21 billion, a PE ratio of 40.63 and a beta of 1.83. The firm has a 50-day simple moving average of $23.44 and a two-hundred day simple moving average of $21.43. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $28.58.

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

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 208,291 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the transaction, the insider now directly owns 346,020 shares in the company, valued at approximately $8,643,579.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,639,654 shares of company stock valued at $110,241,632. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Signaturefd LLC grew its holdings in Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC increased its position in Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares during the period. Angeles Wealth Management LLC raised its holdings in shares of Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares during the period. 93.27% of the stock is currently 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.