Baiju Bhatt Sells 522,180 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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.
• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82.

Robinhood Markets Trading Down 2.0 %

HOOD stock opened at $59.23 on Thursday. The firm has a 50-day moving average price of $46.85 and a 200-day moving average price of $33.40. Robinhood Markets, Inc. has a 12 month low of $13.39 and a 12 month high of $66.91. The stock has a market capitalization of $52.36 billion, a P/E ratio of 37.73, a price-to-earnings-growth ratio of 0.80 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the company. FMR LLC raised its position in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC increased its stake in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after buying an additional 273,860 shares during the period. State Street Corp raised its holdings in Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after buying an additional 555,299 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after acquiring an additional 3,091,514 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HOOD. Morgan Stanley raised their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. KeyCorp raised their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC increased their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

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.