Baiju Bhatt Sells 522,180 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 522,180 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.
• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $45.27, for a total value 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 stock was sold at an average price of $38.13, for a total value of $7,111,778.82.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $4.84 during midday trading on Tuesday, hitting $60.44. 42,200,618 shares of the stock were exchanged, compared to its average volume of 24,908,814. The company has a market capitalization of $53.43 billion, a PE ratio of 102.44, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 52-week low of $13.39 and a 52-week high of $66.91. The business’s fifty day simple moving average is $45.96 and its two-hundred day simple moving average is $32.92.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Analyst Ratings Changes

HOOD has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, KeyCorp increased their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. Creative Planning lifted its position in shares of Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after buying an additional 9,094 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Robinhood Markets by 32.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after purchasing an additional 6,872 shares during the last quarter. Blue Trust Inc. boosted its position in Robinhood Markets by 183.6% during the third quarter. Blue Trust Inc. now owns 22,938 shares of the company’s stock worth $521,000 after purchasing an additional 14,849 shares during the period. Raymond James & Associates grew its holdings in Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after purchasing an additional 43,075 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. 93.27% of the stock is currently owned by 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.