Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $2,735,357.80 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, August 14th, Baiju Bhatt sold 143,944 shares of Robinhood Markets stock. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12.
• On Friday, July 12th, Baiju Bhatt sold 120,236 shares of Robinhood Markets stock. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20.
• On Thursday, June 20th, Baiju Bhatt sold 121,226 shares of Robinhood Markets stock. The stock was sold at an average price of $21.63, for a total value of $2,622,118.38.

Robinhood Markets Stock Performance

HOOD stock opened at $22.07 on Friday. The stock’s 50 day simple moving average is $20.55 and its 200 day simple moving average is $19.73. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88. The company has a market cap of $19.52 billion, a P/E ratio of 147.13 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Equities analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $84,165,000. Nikko Asset Management Americas Inc. increased its position in shares of Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Robinhood Markets by 169.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after acquiring an additional 1,251,495 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Robinhood Markets by 274.7% during the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after acquiring an additional 1,218,317 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOOD. Barclays raised Robinhood Markets from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a report on Monday, August 5th. Morgan Stanley upped their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $23.00 in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.83.

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.