Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $9,199,489.28 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 223,072 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the sale, the director now directly owns 7,863 shares in the company, valued at approximately $324,270.12. The trade was a 96.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, March 24th, Baiju Bhatt sold 47,023 shares of Robinhood Markets stock. The shares were sold at an average price of $46.37, for a total value of $2,180,456.51.
• On Friday, March 21st, Baiju Bhatt sold 223,528 shares of Robinhood Markets stock. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88.
• On Thursday, February 13th, Baiju Bhatt sold 522,180 shares of Robinhood Markets stock. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00.
• On Friday, February 7th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was sold at an average price of $55.34, for a total transaction 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 value of $4,604,180.22.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $41.18 on Friday. The firm has a market cap of $36.46 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm’s fifty day moving average price is $45.22 and its 200 day moving average price is $40.17. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley lowered Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research note on Tuesday, April 8th. Needham & Company LLC dropped their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, March 28th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Citigroup reduced their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Six investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Institutional Trading of Robinhood Markets

Several hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC grew its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after acquiring an additional 265 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the period. Finally, City State Bank boosted its stake in shares of Robinhood Markets by 94.0% during the 1st quarter. City State Bank now owns 970 shares of the company’s stock worth $40,000 after acquiring an additional 470 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.