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

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

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

• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The shares were 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 HOOD opened at $40.81 on Friday. The company’s fifty day simple moving average is $36.67 and its 200 day simple moving average is $27.29. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $43.83. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 69.17, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $43.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $40.67.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently made changes to their positions in HOOD. Allspring Global Investments Holdings LLC increased its holdings in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares during the last quarter. Azora Capital LP acquired a new position in shares of Robinhood Markets in the third quarter valued at $79,780,000. FMR LLC raised its position in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the period. Finally, Geode Capital Management LLC grew its stake in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares during the last quarter. 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.