Baiju Bhatt Sells 186,514 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Baiju Bhatt also recently made the following trade(s):

• On Tuesday, November 5th, Baiju Bhatt sold 108,964 shares of Robinhood Markets stock. The shares were sold at an average price of $24.92, for a total transaction of $2,715,382.88.
• On Thursday, October 17th, Baiju Bhatt sold 98,404 shares of Robinhood Markets stock. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60.

Robinhood Markets Trading Up 2.2 %

HOOD opened at $40.20 on Friday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $42.76. The firm has a 50 day moving average of $31.70 and a two-hundred day moving average of $25.01. The firm has a market capitalization of $35.54 billion, a PE ratio of 68.14, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Commerce Bank boosted its position in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares in the last quarter. Signaturefd LLC grew its stake in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the period. Castleview Partners LLC grew its stake in shares of Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HOOD shares. Piper Sandler raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.13.

Robinhood Markets Company Profile

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.