Baiju Bhatt Sells 107,608 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 107,608 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the transaction, the director now owns 7,863 shares in the company, valued at $475,003.83. This represents a 93.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, May 9th, Baiju Bhatt sold 94,156 shares of Robinhood Markets stock. The shares were sold at an average price of $55.34, for a total value of $5,210,593.04.
• On Monday, April 28th, Baiju Bhatt sold 94,156 shares of Robinhood Markets stock. The stock was sold at an average price of $50.67, for a total value of $4,770,884.52.
• On Wednesday, April 23rd, Baiju Bhatt sold 47,133 shares of Robinhood Markets stock. The shares were sold at an average price of $45.27, for a total transaction of $2,133,710.91.
• On Wednesday, April 16th, Baiju Bhatt sold 223,072 shares of Robinhood Markets stock. The shares were sold at an average price of $41.24, for a total transaction of $9,199,489.28.
• On Monday, March 24th, Baiju Bhatt sold 47,023 shares of Robinhood Markets stock. The stock was sold at an average price of $46.37, for a total transaction 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 transaction of $9,658,644.88.

Robinhood Markets Stock Down 1.2%

HOOD opened at $60.68 on Friday. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The business’s 50 day moving average is $44.76 and its two-hundred day moving average is $43.31. The firm has a market cap of $53.73 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business’s revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cantor Fitzgerald decreased their price target on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. KeyCorp decreased their target price on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Piper Sandler upped their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.41.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in shares of Robinhood Markets by 28.7% during the first quarter. Alliancebernstein L.P. now owns 839,570 shares of the company’s stock worth $34,943,000 after buying an additional 187,043 shares during the last quarter. Beaird Harris Wealth Management LLC purchased a new position in shares of Robinhood Markets in the 1st quarter valued at approximately $837,000. Banque Transatlantique SA acquired a new position in shares of Robinhood Markets in the first quarter valued at approximately $324,000. Altimeter Capital Management LP purchased a new stake in shares of Robinhood Markets during the first quarter worth approximately $120,103,000. Finally, JAT Capital Mgmt LP purchased a new position in Robinhood Markets in the 1st quarter valued at $2,704,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.