Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $4,604,180.22 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $255,478.14. The trade was a 94.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was 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 value of $9,230,398.65.
• 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.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $0.76 during trading hours on Friday, hitting $51.12. 19,831,414 shares of the company were exchanged, compared to its average volume of 21,733,734. The company has a 50 day simple moving average of $40.01 and a two-hundred day simple moving average of $28.92. The firm has a market cap of $45.19 billion, a P/E ratio of 86.65, a P/E/G ratio of 0.67 and a beta of 2.07. Robinhood Markets, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $52.06.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOOD. American Century Companies Inc. bought a new position in shares of Robinhood Markets in the second quarter valued at $486,000. Vanguard Personalized Indexing Management LLC raised its position in Robinhood Markets by 21.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,071 shares of the company’s stock valued at $615,000 after buying an additional 4,843 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Robinhood Markets during the second quarter valued at about $207,000. Sei Investments Co. lifted its position in shares of Robinhood Markets by 64.1% during the 2nd quarter. Sei Investments Co. now owns 61,754 shares of the company’s stock worth $1,402,000 after buying an additional 24,129 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Robinhood Markets by 11.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 176,606 shares of the company’s stock worth $4,011,000 after buying an additional 17,758 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HOOD. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Citigroup lifted their target price on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Barclays increased their price target on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.07.

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.