Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt Sells 47,023 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 47,023 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, March 21st, Baiju Bhatt sold 223,528 shares of Robinhood Markets stock. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88.
• 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 transaction 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 value of $9,230,398.65.

Robinhood Markets Stock Down 4.7 %

Shares of NASDAQ HOOD opened at $41.92 on Friday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 1.05 and a beta of 2.14. The company’s fifty day moving average is $49.16 and its 200-day moving average is $38.06.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets in the 4th quarter valued at $329,598,000. GQG Partners LLC bought a new stake in Robinhood Markets in the 4th quarter valued at $302,325,000. Artisan Partners Limited Partnership acquired a new position in Robinhood Markets in the 4th quarter worth $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective for the company. Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Citigroup increased their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.82.

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.