Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $9,230,398.65 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at $203,545.54. This represents a 97.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 value of $7,111,778.82.
• 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 Price Performance

HOOD opened at $40.81 on Friday. The company’s 50 day simple moving average is $36.67 and its 200-day simple moving average is $27.29. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $43.83. The stock has a market capitalization of $36.08 billion, a P/E ratio of 69.17, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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 net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates 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, analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares during the period. Azora Capital LP bought a new position in shares of Robinhood Markets in the 3rd quarter worth $79,780,000. FMR LLC grew its stake in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. Renaissance Technologies LLC increased its holdings in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HOOD. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $20.00 to $43.00 in a research note on Tuesday. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, JMP Securities lifted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.67.

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.