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

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale 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 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 value 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 transaction of $2,715,382.88.
• On Thursday, October 17th, Baiju Bhatt sold 98,404 shares of Robinhood Markets stock. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60.

Robinhood Markets Stock Performance

Shares of HOOD traded down $2.15 on Tuesday, reaching $40.56. The stock had a trading volume of 17,600,861 shares, compared to its average volume of 19,696,400. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83. The firm has a market capitalization of $35.85 billion, a price-to-earnings ratio of 68.75, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The company has a 50-day simple moving average of $35.82 and a 200-day simple moving average of $26.97.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. On average, analysts expect that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division boosted its position in shares of Robinhood Markets by 5.9% in the 4th quarter. Central Pacific Bank Trust Division now owns 32,301 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,812 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets in the fourth quarter worth $634,000. GAMMA Investing LLC grew its stake in shares of Robinhood Markets by 49.3% in the fourth quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock worth $218,000 after acquiring an additional 1,935 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Robinhood Markets by 6,799.1% during the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock valued at $856,000 after acquiring an additional 22,641 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC bought a new position in Robinhood Markets in the 3rd quarter worth about $263,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HOOD. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $49.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

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.