Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $2,715,382.88 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 108,964 shares of Robinhood Markets stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $62,823.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, October 17th, Baiju Bhatt sold 98,404 shares of Robinhood Markets stock. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60.
• On Monday, September 9th, Baiju Bhatt sold 139,916 shares of Robinhood Markets stock. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80.
• On Wednesday, August 14th, Baiju Bhatt sold 143,944 shares of Robinhood Markets stock. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12.

Robinhood Markets Trading Up 4.0 %

Shares of HOOD opened at $30.54 on Friday. The company’s 50-day moving average price is $24.17 and its 200 day moving average price is $21.80. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $30.63. The firm has a market cap of $27.00 billion, a P/E ratio of 51.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the firm posted ($0.09) earnings per share. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. Equities research analysts forecast that Robinhood Markets, Inc. will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. HM Payson & Co. grew its stake in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank acquired a new position in Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $33,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the third quarter worth about $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth about $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, October 31st. Morgan Stanley raised their target price on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Keefe, Bruyette & Woods cut their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.17.

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.