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

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 47,023 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $233,797.54. This trade represents a 90.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value 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 value of $32,740,686.00.
• On Friday, February 7th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44.
• On Wednesday, January 22nd, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was sold at an average price of $50.67, for a total transaction 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 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 value of $9,230,398.65.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $43.99 on Friday. The business’s fifty day moving average price is $49.29 and its two-hundred day moving average price is $37.91. The stock has a market cap of $38.95 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HOOD. Raymond James began coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Barclays boosted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Institutional Investors Weigh In On Robinhood Markets

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

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.