Baiju Bhatt Sells 1,568,421 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Key Points

• Baiju Bhatt, a director of Robinhood Markets, sold 1,568,421 shares of the company's stock on August 1st for approximately $156.8 million.
• After a recent quarterly earnings report, Robinhood Markets had a net revenue increase of 45.0% year-over-year, reporting $989 million in revenue and $0.42 EPS for the quarter.
• Institutional investors now own 93.27% of Robinhood Markets' stock, with notable increases in holdings by firms such as Vanguard and FMR LLC.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, August 1st, Baiju Bhatt sold 10,518 shares of Robinhood Markets stock. The shares were sold at an average price of $100.10, for a total value of $1,052,851.80.
• On Thursday, July 24th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $101.88, for a total value of $42,620,275.44.
• On Wednesday, June 11th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02.
• On Tuesday, May 20th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48.
• On Tuesday, May 13th, Baiju Bhatt sold 107,608 shares of Robinhood Markets stock. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28.
• On Friday, May 9th, Baiju Bhatt sold 94,156 shares of Robinhood Markets stock. The shares were sold at an average price of $55.34, for a total value of $5,210,593.04.

Robinhood Markets Stock Down 0.9%

Shares of NASDAQ HOOD traded down $0.91 during trading on Tuesday, hitting $105.46. The company had a trading volume of 33,331,407 shares, compared to its average volume of 41,908,605. The firm has a market capitalization of $93.38 billion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $16.25 and a fifty-two week high of $113.44. The stock has a fifty day simple moving average of $87.78 and a two-hundred day simple moving average of $62.52.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the previous year, the firm earned $0.21 EPS. The business's revenue was up 45.0% on a year-over-year basis. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. KeyCorp boosted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Barclays upped their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.29.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. FMR LLC increased its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC grew its position in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

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.

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