Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt Sells 90,866 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $255,478.14. This trade represents a 94.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $45.27, for a total transaction 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 transaction of $9,230,398.65.
• 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 stock was sold at an average price of $24.92, for a total value of $2,715,382.88.

Robinhood Markets Trading Up 1.5 %

Shares of NASDAQ:HOOD opened at $51.12 on Friday. The firm has a 50 day simple moving average of $40.38 and a 200-day simple moving average of $29.13. The company has a market capitalization of $45.19 billion, a PE ratio of 86.65, a P/E/G ratio of 0.67 and a beta of 2.07. Robinhood Markets, Inc. has a twelve month low of $10.51 and a twelve month high of $52.06.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s 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. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. Commerce Bank boosted its stake in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the period. Signaturefd LLC grew its position in Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Spire Wealth Management increased its stake in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Castleview Partners LLC raised its holdings in shares of Robinhood Markets by 18.2% in the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after buying an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Piper Sandler increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Barclays increased their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp lifted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup increased their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $43.07.

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.