Sanford C. Bernstein Lowers Robinhood Markets (NASDAQ:HOOD) Price Target to $130.00

Robinhood Markets (NASDAQ:HOOD) had its target price cut by research analysts at Sanford C. Bernstein from $160.00 to $130.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target suggests a potential upside of 96.91% from the company’s current price.

Several other research firms also recently commented on HOOD. Citizens Jmp reiterated a “market outperform” rating and issued a $180.00 target price on shares of Robinhood Markets in a research report on Wednesday, February 11th. Morgan Stanley upped their price objective on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. The Goldman Sachs Group dropped their price objective on shares of Robinhood Markets from $102.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research report on Wednesday, February 11th. Finally, Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a report on Monday, February 9th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $66.02 on Monday. The company has a fifty day moving average of $82.41 and a 200-day moving average of $111.42. The company has a market capitalization of $59.44 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 1.49 and a beta of 2.47. Robinhood Markets has a 52-week low of $29.66 and a 52-week 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 for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.Robinhood Markets’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, equities analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $75.49, for a total transaction of $754,900.00. Following the transaction, the insider owned 452,849 shares in the company, valued at approximately $34,185,571.01. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Insiders sold 469,268 shares of company stock valued at $54,409,454 in the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caisse Des Depots ET Consignations purchased a new position in Robinhood Markets during the third quarter worth about $3,984,000. Aberdeen Group plc boosted its holdings in shares of Robinhood Markets by 565.1% in the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after buying an additional 157,643 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter worth about $322,823,000. NEOS Investment Management LLC bought a new position in Robinhood Markets during the third quarter valued at about $11,994,000. Finally, New York Life Investment Management LLC bought a new stake in Robinhood Markets in the third quarter worth about $14,989,000. 93.27% of the stock is owned by 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.