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 stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction 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. This represents a 98.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Robinhood Markets Stock Performance

NASDAQ:HOOD traded up $0.87 during trading hours on Friday, hitting $40.20. The stock had a trading volume of 18,245,149 shares, compared to its average volume of 16,822,104. The business’s 50 day moving average is $31.35 and its 200-day moving average is $24.85. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $49.00 in a report on Monday. Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. HM Payson & Co. raised its holdings in shares of 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. True Wealth Design LLC bought a new position in Robinhood Markets during the 3rd quarter worth about $30,000. Eastern Bank acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC bought a new stake in shares of Robinhood Markets in the third quarter valued at about $33,000. Finally, ORG Partners LLC bought a new stake in shares of Robinhood Markets in the second quarter valued at about $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.