Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $32,740,686.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, February 7th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44.
• On Wednesday, January 22nd, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $50.67, for a total transaction of $4,604,180.22.
• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82.
• On Friday, January 3rd, Baiju Bhatt sold 228,645 shares of Robinhood Markets stock. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65.
• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $56.06 on Friday. Robinhood Markets, Inc. has a twelve month low of $13.39 and a twelve month high of $66.91. The stock has a market cap of $49.56 billion, a PE ratio of 35.71, a PEG ratio of 1.13 and a beta of 2.13. The firm has a 50-day simple moving average of $47.19 and a 200 day simple moving average of $33.56.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.96% and a net margin of 47.81%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HOOD shares. Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday. Mizuho increased their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. FMR LLC raised its stake in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets in the fourth quarter valued at about $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets during the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.