Baiju Bhatt Sells 90,866 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at $228,251.34. This represents a 94.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, January 3rd, Baiju Bhatt sold 228,645 shares of Robinhood Markets stock. The shares were 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 transaction 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.

Robinhood Markets Trading Up 4.5 %

Shares of Robinhood Markets stock opened at $48.15 on Friday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $49.27. The stock has a market cap of $42.56 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. The company has a 50-day moving average of $38.63 and a two-hundred day moving average of $28.22.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $47,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HOOD has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $43.07.

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.