Insider Selling: Robinhood Markets (NASDAQ:HOOD) Director Sells $5,189,397.74 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 57,898 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total value of $5,189,397.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 20th, Baiju Bhatt sold 67,422 shares of Robinhood Markets stock. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36.
• On Thursday, April 16th, Baiju Bhatt sold 57,261 shares of Robinhood Markets stock. The stock was sold at an average price of $86.38, for a total value of $4,946,205.18.
• On Friday, March 20th, Baiju Bhatt sold 67,422 shares of Robinhood Markets stock. The stock was sold at an average price of $71.32, for a total value of $4,808,537.04.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $105.20 on Thursday. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The stock has a fifty day moving average of $81.94 and a two-hundred day moving average of $91.51. The firm has a market capitalization of $94.73 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 2.42 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood announced a planned 10% workforce reduction, which investors are interpreting as a cost-cutting move that could improve efficiency and margins. The company said the restructuring is aimed at flattening management and speeding product launches. WSJ: Robinhood Markets to Cut 10% of Workforce in Restructuring
• Positive Sentiment: Management also said trading activity is running at record levels in June, signaling strong platform engagement and potentially better near-term revenue trends. Motley Fool: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
• Positive Sentiment: Wall Street responded favorably, with Argus raising its price target on HOOD to $110 from $90 and reiterating a buy rating, reinforcing confidence in the company’s growth outlook. Yahoo Finance: Robinhood Stock Is Soaring A Day After Big Layoffs. This Is Why.
• Positive Sentiment: Multiple reports say analysts remain broadly bullish on Robinhood despite the layoffs, suggesting investors see the company’s growth story as intact. Invezz: Robinhood stock gains as analysts back growth despite layoffs
• Neutral Sentiment: There was also insider selling by CFO Shiv Verma and director Baiju Bhatt, but both sales were disclosed as pre-arranged 10b5-1 transactions, so the market may treat them as routine rather than a major warning sign. SEC filing: Shiv Verma sale SEC filing: Baiju Bhatt sale

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its position in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after buying an additional 145 shares during the period. CYBER HORNET ETFs LLC raised its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC acquired a new position in Robinhood Markets during the fourth quarter valued at $27,000. MV Capital Management Inc. acquired a new position in Robinhood Markets during the fourth quarter valued at $27,000. Finally, Swiss RE Ltd. acquired a new position in Robinhood Markets in the 4th quarter worth about $27,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. New Street Research set a $122.00 price objective on Robinhood Markets in a report on Thursday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. reduced their target price on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.36.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.