Baiju Bhatt Sells 121,226 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 121,226 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, May 30th, Baiju Bhatt sold 116,669 shares of Robinhood Markets stock. The shares were sold at an average price of $22.02, for a total transaction of $2,569,051.38.
• On Wednesday, May 15th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The stock was sold at an average price of $18.27, for a total transaction of $304,506.09.
• On Friday, May 10th, Baiju Bhatt sold 153,180 shares of Robinhood Markets stock. The shares were sold at an average price of $16.63, for a total transaction of $2,547,383.40.
• On Tuesday, April 23rd, Baiju Bhatt sold 154,160 shares of Robinhood Markets stock. The shares were sold at an average price of $17.61, for a total transaction of $2,714,757.60.
• On Thursday, April 18th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The stock was sold at an average price of $17.16, for a total transaction of $286,005.72.

Robinhood Markets Stock Performance

HOOD stock opened at $22.14 on Wednesday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.28. The business’s 50 day moving average price is $19.74 and its two-hundred day moving average price is $16.26. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 147.60 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.57) EPS. Sell-side analysts forecast that Robinhood Markets, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Robinhood Markets by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares during the period. ARK Investment Management LLC increased its stake in Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after buying an additional 2,101,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after buying an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after buying an additional 2,486,986 shares in the last quarter. Finally, Norges Bank purchased a new stake in Robinhood Markets in the 4th quarter worth $84,165,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. TheStreet raised shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Piper Sandler boosted their target price on shares of Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.18.

Robinhood Markets Company Profile

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.