Baiju Bhatt Sells 228,645 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 228,645 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction 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 value 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 value of $2,597,865.60.

Robinhood Markets Trading Up 0.6 %

Shares of NASDAQ HOOD opened at $40.81 on Thursday. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 69.17, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The stock’s 50 day simple moving average is $36.32 and its 200 day simple moving average is $27.20. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (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 for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm posted ($0.09) EPS. The business’s revenue was up 36.4% compared to the same quarter last year. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 last quarter. Azora Capital LP bought a new stake in Robinhood Markets during the 3rd quarter valued at $79,780,000. FMR LLC boosted its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the period. Renaissance Technologies LLC grew its stake 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HOOD shares. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $26.00 to $49.00 in a report on Monday, December 9th. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $55.00 in a report on Monday, November 25th. Citigroup increased their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

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.