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 firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the transaction, the director now owns 5,042 shares in the company, valued at $203,545.54. This represents a 97.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 value of $2,597,865.60.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $40.81 on Thursday. The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 69.17, 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 $36.32 and a 200-day simple moving average of $27.20. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $43.83.

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

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently made changes to their positions in the company. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter worth $33,000. Finally, Connective Portfolio Management LLC bought a new position in Robinhood Markets during the third quarter valued at about $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on HOOD. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Citigroup lifted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. KeyCorp raised their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target 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.