Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $4,113,503.82 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $228,251.34. This trade represents a 94.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $9,230,398.65.
• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82.
• On Tuesday, November 5th, Baiju Bhatt sold 108,964 shares of Robinhood Markets stock. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88.

Robinhood Markets Price Performance

HOOD traded up $2.07 during trading hours on Friday, reaching $48.15. 35,128,062 shares of the stock traded hands, compared to its average volume of 21,739,152. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $49.27. The company has a market cap of $42.56 billion, a price-to-earnings ratio of 81.61, a PEG ratio of 0.58 and a beta of 2.07. The firm’s fifty day simple moving average is $38.28 and its two-hundred day simple moving average is $28.00.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 36.4% compared to the same quarter last year. On average, research analysts predict that Robinhood Markets, Inc. will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP bought a new position in shares of Robinhood Markets during the third quarter worth about $79,780,000. FMR LLC lifted its position in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Robinhood Markets by 486.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after acquiring an additional 2,313,213 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, KeyCorp lifted their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and twelve have issued 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 target price of $43.07.

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.