Baiju Bhatt Sells 418,338 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Key Points

• Baiju Bhatt, a Director at Robinhood Markets, sold 418,338 shares of the company's stock for a total of $55.68 million on October 21st, indicating significant insider activity.
• Robinhood's stock price increased by 5.6%, closing at $134.33, as the company reported a robust quarterly earnings growth with a 45% year-over-year revenue increase.
• Several analysts have raised their price targets for Robinhood, with Needham & Company lifting theirs from $120 to $145, indicating positive market sentiment towards the company's future performance.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total value of $55,684,971.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, September 10th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96.
• On Thursday, August 14th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $109.39, for a total transaction of $45,761,993.82.
• On Friday, August 1st, Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58.
• 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.

Robinhood Markets Trading Up 5.6%

Shares of HOOD traded up $7.11 during trading hours on Thursday, hitting $134.33. The company had a trading volume of 24,464,506 shares, compared to its average volume of 41,124,070. The company has a market capitalization of $119.38 billion, a PE ratio of 68.19, a price-to-earnings-growth ratio of 3.48 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86. The company's fifty day moving average price is $122.43 and its two-hundred day moving average price is $90.88.

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

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Citigroup boosted their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group upped their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average target price of $118.94.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Valley National Advisers Inc. boosted its holdings in shares of Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Robinhood Markets by 44.9% during the third quarter. North Star Investment Management Corp. now owns 255 shares of the company's stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after purchasing an additional 148 shares during the period. Smithfield Trust Co purchased a new stake in Robinhood Markets in the 2nd quarter worth approximately $29,000. Finally, Security National Bank purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth about $46,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.

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