Robinhood Markets (NASDAQ:HOOD) Given New $22.00 Price Target at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price target reduced by The Goldman Sachs Group from $25.00 to $22.00 in a research note published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

HOOD has been the subject of several other reports. Morgan Stanley lifted their price target on Robinhood Markets from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Needham & Company LLC reiterated a "hold" rating on shares of Robinhood Markets in a research report on Thursday. Barclays raised their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an "equal weight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of "Hold" and an average target price of $25.17.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.48 on Friday, reaching $23.97. 21,563,250 shares of the company's stock were exchanged, compared to its average volume of 15,568,216. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 40.63 and a beta of 1.84. The stock has a fifty day simple moving average of $23.44 and a 200-day simple moving average of $21.40. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $28.58.

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

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares of the company's stock, valued at approximately $66,554.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares of the company's stock, valued at approximately $66,554.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,639,654 shares of company stock worth $110,241,632 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company's stock worth $29,000 after purchasing an additional 722 shares during the period. Diversified Trust Co purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $278,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets during the first quarter valued at approximately $34,000. Principal Financial Group Inc. lifted its stake in Robinhood Markets by 26.6% in the first quarter. Principal Financial Group Inc. now owns 53,661 shares of the company's stock worth $1,080,000 after acquiring an additional 11,264 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Robinhood Markets by 40.1% in the first quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company's stock valued at $928,000 after acquiring an additional 13,202 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.