Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 418,338 Shares of Stock

Key Points

• Robinhood Markets Director Baiju Bhatt sold 418,338 shares on July 24th for $42.6 million, resulting in a 97.55% decrease in his ownership of the stock.
• The stock is currently trading at $106.77, with a significant increase of 1.8% during recent trading sessions.
• Several analysts raised their price targets for Robinhood's stock, with Mizuho setting a new target at $99.00 and Piper Sandler at $110.00, reflecting positive sentiment towards the company's future performance.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $101.88, for a total value of $42,620,275.44. Following the completion of the sale, the director owned 10,518 shares of the company's stock, valued at $1,071,573.84. This trade represents a 97.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $26,966,067.48.
• On Tuesday, May 13th, Baiju Bhatt sold 107,608 shares of Robinhood Markets stock. The stock was 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 stock was sold at an average price of $55.34, for a total value of $5,210,593.04.

Robinhood Markets Trading Up 1.8%

HOOD stock traded up $1.92 during trading on Monday, reaching $106.77. The stock had a trading volume of 30,476,455 shares, compared to its average volume of 41,668,957. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44. The company has a market capitalization of $94.54 billion, a P/E ratio of 60.67, a PEG ratio of 5.35 and a beta of 2.36. The firm has a fifty day moving average price of $82.95 and a 200 day moving average price of $59.97.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the firm posted $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HOOD. Mizuho upped their price objective on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Piper Sandler increased their target price on Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group increased their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup increased their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, July 7th. 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. FMR LLC boosted its holdings 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 valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC boosted its holdings in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Institutional investors 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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