Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 223,528 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 223,528 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $217,864.82. This trade represents a 97.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 24th, Baiju Bhatt sold 47,023 shares of Robinhood Markets stock. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51.
• On Thursday, February 13th, Baiju Bhatt sold 522,180 shares of Robinhood Markets stock. The shares were 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 value 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 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 stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65.

Robinhood Markets Trading Down 7.1 %

HOOD opened at $44.73 on Thursday. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a market cap of $39.61 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14. The company’s fifty day moving average price is $49.33 and its two-hundred day moving average price is $37.87.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. increased its position in Robinhood Markets by 7.8% in the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after buying an additional 277 shares during the last quarter. Commerce Bank increased its position in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of 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 buying an additional 549 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HOOD shares. Needham & Company LLC lifted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Citigroup increased their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.29.

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.