Baiju Bhatt Sells 418,338 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total transaction of $55,684,971.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, September 10th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96.
• On Thursday, August 14th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $109.39, for a total transaction of $45,761,993.82.
• On Friday, August 1st, Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58.
• On Friday, August 1st, Baiju Bhatt sold 10,518 shares of Robinhood Markets stock. The stock was sold at an average price of $100.10, for a total transaction of $1,052,851.80.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $139.79 on Friday. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The company has a 50-day simple moving average of $123.41 and a two-hundred day simple moving average of $92.29. The company has a market capitalization of $124.23 billion, a price-to-earnings ratio of 70.96, a PEG ratio of 3.49 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC lifted its stake in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after buying an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP lifted its stake in Robinhood Markets by 275.0% in the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after purchasing an additional 55,000 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HOOD. Bank of America boosted their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Finally, Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

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.