Mizuho Cuts Robinhood Markets (NASDAQ:HOOD) Price Target to $135.00

Robinhood Markets (NASDAQ:HOOD) had its price objective decreased by investment analysts at Mizuho from $172.00 to $135.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 77.70% from the company’s previous close.

Several other analysts also recently commented on the company. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Bank of America dropped their price target on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. The Goldman Sachs Group decreased their price objective on Robinhood Markets from $152.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Finally, Truist Financial dropped their target price on shares of Robinhood Markets from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $125.27.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $75.97 on Tuesday. The firm’s 50 day simple moving average is $107.68 and its 200 day simple moving average is $118.14. Robinhood Markets has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The company has a market capitalization of $68.31 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 1.29 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last issued 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. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. Equities research analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $132.26, for a total value of $775,704.90. Following the sale, the chief technology officer directly owned 26,725 shares in the company, valued at $3,534,648.50. This trade represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 700,939 shares of company stock valued at $84,749,747 over the last quarter. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. boosted its position in Robinhood Markets by 44.9% during the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. First Command Advisory Services Inc. boosted its holdings in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after buying an additional 81 shares during the last quarter. CogentBlue Wealth Advisors LLC boosted its holdings in shares of Robinhood Markets by 3.8% in the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after buying an additional 87 shares during the last quarter. Evolution Wealth Advisors LLC grew its stake in shares of Robinhood Markets by 5.2% in the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after buying an additional 95 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in Robinhood Markets by 5.5% during the third quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after buying an additional 97 shares during the last quarter. Institutional investors 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.