Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt Sells 186,514 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. This represents a 98.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction of $2,597,865.60.

Robinhood Markets Stock Performance

HOOD traded up $0.87 on Friday, reaching $40.20. The company had a trading volume of 18,245,149 shares, compared to its average volume of 16,822,104. The stock has a market cap of $35.54 billion, a P/E ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $42.76. The company’s fifty day moving average is $31.35 and its 200 day moving average is $24.85.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm 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%. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Commerce Bank increased its position in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the period. Signaturefd LLC increased its position in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares during the period. Castleview Partners LLC raised its stake in Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after purchasing an additional 598 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HOOD shares. Citigroup lifted their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Piper Sandler boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $38.13.

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.