Robinhood Markets (NASDAQ:HOOD) Price Target Cut to $130.00 by Analysts at Sanford C. Bernstein

Robinhood Markets (NASDAQ:HOOD) had its target price dropped by investment analysts at Sanford C. Bernstein from $160.00 to $130.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 96.91% from the stock’s previous close.

A number of other brokerages also recently weighed in on HOOD. The Goldman Sachs Group lowered their target price on Robinhood Markets from $102.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday. New Street Research set a $122.00 price objective on Robinhood Markets in a research report on Thursday, March 5th. Cantor Fitzgerald dropped their price objective on Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Bank of America cut their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Loop Capital set a $130.00 target price on shares of Robinhood Markets in a research note on Monday, February 9th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $66.02 on Monday. The stock has a market cap of $59.44 billion, a P/E ratio of 32.05, a PEG ratio of 1.49 and a beta of 2.47. The company has a fifty day moving average price of $82.41 and a 200 day moving average price of $111.42. Robinhood Markets has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $1.01 earnings per share. Robinhood Markets’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $75.49, for a total transaction of $754,900.00. Following the completion of the transaction, the insider owned 452,849 shares in the company, valued at approximately $34,185,571.01. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 469,268 shares of company stock worth $54,409,454 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% during the 3rd 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 grew its stake in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Vision Financial Markets LLC increased its holdings in Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets in the 3rd quarter valued at about $29,000. Finally, Guerra Advisors Inc acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.