Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 98,404 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $66,554.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 9th, Baiju Bhatt sold 139,916 shares of Robinhood Markets stock. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80.
• On Wednesday, August 14th, Baiju Bhatt sold 143,944 shares of Robinhood Markets stock. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $26.97 on Tuesday. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $27.33. The firm has a market capitalization of $23.70 billion, a P/E ratio of 179.80 and a beta of 1.84. The business has a fifty day moving average price of $22.20 and a 200-day moving average price of $20.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

HOOD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Hold” and an average target price of $24.97.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Robinhood Markets by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after buying an additional 112,967 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Robinhood Markets by 1,211,858.7% during 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. Finally, Bank of New York Mellon Corp grew its position in Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after buying an additional 193,585 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.