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

Key Points

• Robinhood Markets, Inc. Director Baiju Bhatt sold 418,338 shares of the stock on August 14, earning approximately $45.76 million.
• The stock has recently experienced a notable trading activity, with shares reaching a value of $115.02, which shows a significant increase in its market performance.
• Robinhood's latest quarterly earnings report revealed an earnings per share of $0.42, surpassing estimates and achieving a revenue of $989 million for the quarter.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, August 1st, Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock. The shares were sold at an average price of $99.98, for a total transaction 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 transaction 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 transaction of $42,620,275.44.
• On Wednesday, June 11th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $74.29, for a total transaction 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.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded up $0.85 during mid-day trading on Monday, hitting $115.02. 35,492,003 shares of the stock were exchanged, compared to its average volume of 41,702,672. The company has a market cap of $102.21 billion, a P/E ratio of 58.39, a PEG ratio of 4.35 and a beta of 2.36. The stock's fifty day simple moving average is $95.36 and its two-hundred day simple moving average is $66.35. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new position in Robinhood Markets in the fourth quarter valued at approximately $2,554,000. Townsquare Capital LLC bought a new position in Robinhood Markets in the fourth quarter valued at approximately $377,000. Farringdon Capital Ltd. bought a new position in Robinhood Markets in the fourth quarter valued at approximately $219,000. GeoWealth Management LLC bought a new position in Robinhood Markets in the fourth quarter valued at approximately $53,000. Finally, First Trust Advisors LP boosted its stake in Robinhood Markets by 35.9% in the fourth quarter. First Trust Advisors LP now owns 964,836 shares of the company's stock valued at $35,950,000 after acquiring an additional 254,817 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HOOD shares. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Compass Point upped their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Needham & Company LLC increased their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Finally, Redburn Atlantic restated a "sell" rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

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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