Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $9,658,644.88 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 223,528 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $217,864.82. This represents a 97.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, March 24th, Baiju Bhatt sold 47,023 shares of Robinhood Markets stock. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51.
• On Thursday, February 13th, Baiju Bhatt sold 522,180 shares of Robinhood Markets stock. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00.
• On Friday, February 7th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was 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 value 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 value 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.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $43.99 on Friday. The company’s 50 day moving average price is $49.29 and its two-hundred day moving average price is $37.91. The firm has a market capitalization of $38.95 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on HOOD. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective on the stock. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Newlands Management Operations LLC lifted its holdings in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after purchasing an additional 273,860 shares during the period. State Street Corp lifted its holdings in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the period. Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the period. 93.27% of the stock is currently 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.