Truist Financial Issues Pessimistic Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Key Points

• Truist cut its price target on Robinhood from $120 to $100 while keeping a buy rating, a target that implies roughly a 41.22% upside from the stock's current price.
• The analyst consensus is a "Moderate Buy" with an average price target of $109.42 and a breakdown of 18 Buys, 5 Holds, and 2 Sells.
• Insiders have sold 469,239 shares (~$34.16M) in the past three months and now own 19.95%, while institutional investors own 93.27% of the stock, including large stakes from Vanguard, State Street, Morgan Stanley and a new position by Norges Bank.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price objective dropped by stock analysts at Truist Financial from $120.00 to $100.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 41.22% from the stock's current price.

Other equities analysts have also recently issued reports about the company. New Street Research set a $122.00 price objective on Robinhood Markets in a report on Thursday, March 5th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price objective on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research report on Friday, March 27th. Cantor Fitzgerald cut their price objective on Robinhood Markets from $130.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 17th. Finally, Wolfe Research upgraded Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $125.00 price target on the stock in a research report on Monday, February 9th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $109.42.

Robinhood Markets Trading Up 2.3%

NASDAQ HOOD traded up $1.62 during trading on Monday, hitting $70.81. 12,088,681 shares of the company's stock were exchanged, compared to its average volume of 28,828,514. The company has a market cap of $63.75 billion, a PE ratio of 34.38, a P/E/G ratio of 1.87 and a beta of 2.46. Robinhood Markets has a fifty-two week low of $39.21 and a fifty-two week high of $153.86. The stock's 50 day moving average price is $75.27 and its two-hundred day moving average price is $107.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The business's quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. Analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 52,540 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total value of $4,613,537.40. Following the sale, the insider directly owned 27,564 shares in the company, valued at approximately $2,420,394.84. This represents a 65.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $69.85, for a total value of $407,574.75. Following the completion of the transaction, the chief technology officer directly owned 18,006 shares in the company, valued at approximately $1,257,719.10. This trade represents a 24.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 469,239 shares of company stock valued at $34,161,725 over the last three months. Corporate insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company's stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares in the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 2.7% in the fourth quarter. State Street Corp now owns 33,121,452 shares of the company's stock valued at $3,746,036,000 after purchasing an additional 875,297 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company's stock valued at $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley grew its position in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock worth $1,208,335,000 after acquiring an additional 2,061,832 shares during the period. Finally, Norges Bank purchased a new position in Robinhood Markets in the fourth quarter worth approximately $1,202,160,000. 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.

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