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

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the transaction, the director now owns 2,521 shares in the company, valued at $96,125.73. This represents a 98.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 stock was sold at an average price of $26.40, for a total value of $2,597,865.60.

Robinhood Markets Stock Up 2.2 %

HOOD stock opened at $40.20 on Friday. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $42.76. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of 68.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The firm’s fifty day simple moving average is $31.70 and its two-hundred day simple moving average is $24.98.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOOD. FMR LLC lifted its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. State Street Corp lifted its stake in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC grew its holdings in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Renaissance Technologies LLC increased its position in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HOOD shares. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Piper Sandler boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

Robinhood Markets Company Profile

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.