Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $2,714,757.60 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 154,160 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $17.61, for a total value of $2,714,757.60. Following the completion of the transaction, the director now directly owns 36,045 shares in the company, valued at approximately $634,752.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, April 18th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The shares were sold at an average price of $17.16, for a total value of $286,005.72.
• On Tuesday, March 19th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The shares were sold at an average price of $17.17, for a total value of $286,172.39.
• On Tuesday, March 12th, Baiju Bhatt sold 157,177 shares of Robinhood Markets stock. The shares were sold at an average price of $16.41, for a total value of $2,579,274.57.
• On Thursday, February 29th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The shares were sold at an average price of $16.17, for a total value of $269,505.39.
• On Monday, February 26th, Baiju Bhatt sold 482,667 shares of Robinhood Markets stock. The shares were sold at an average price of $15.10, for a total value of $7,288,271.70.
• On Wednesday, February 21st, Baiju Bhatt sold 188,077 shares of Robinhood Markets stock. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $17.88 on Friday. The stock has a 50-day simple moving average of $17.38 and a two-hundred day simple moving average of $12.92. The firm has a market capitalization of $15.64 billion, a P/E ratio of -29.80 and a beta of 1.69. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank increased its stake in shares of Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Robinhood Markets by 4.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Robinhood Markets by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock valued at $2,860,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Robinhood Markets by 6.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 23,591 shares of the company’s stock valued at $301,000 after purchasing an additional 1,494 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOOD. Mizuho raised their price objective on Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein began coverage on Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective for the company. JMP Securities raised their price objective on Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods began coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Morgan Stanley raised their target price on Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.88.

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.