Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt Sells 418,338 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the sale, the director now directly owns 7,863 shares in the company, valued at approximately $584,142.27. The trade was a 98.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, May 20th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The shares were 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 transaction 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.
• On Monday, April 28th, Baiju Bhatt sold 94,156 shares of Robinhood Markets stock. The stock was sold at an average price of $50.67, for a total value of $4,770,884.52.
• On Wednesday, April 23rd, Baiju Bhatt sold 47,133 shares of Robinhood Markets stock. The shares were sold at an average price of $45.27, for a total value of $2,133,710.91.
• On Wednesday, April 16th, Baiju Bhatt sold 223,072 shares of Robinhood Markets stock. The stock was sold at an average price of $41.24, for a total value of $9,199,489.28.
• On Monday, March 24th, Baiju Bhatt sold 47,023 shares of Robinhood Markets stock. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51.
• On Friday, March 21st, Baiju Bhatt sold 223,528 shares of Robinhood Markets stock. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $4.15 during mid-day trading on Monday, reaching $76.75. 26,849,354 shares of the stock were exchanged, compared to its average volume of 27,389,990. The business's 50 day moving average is $57.07 and its 200-day moving average is $49.08. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $77.80. The company has a market capitalization of $67.96 billion, a P/E ratio of 48.89, a P/E/G ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the company posted $0.18 earnings per share. The business's quarterly revenue was up 50.0% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HOOD shares. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group lifted their price target on Robinhood Markets from $81.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley boosted their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.17.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. FMR LLC lifted its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank purchased a new position in Robinhood Markets during the fourth quarter valued at $329,598,000. GQG Partners LLC purchased a new position in Robinhood Markets during the fourth quarter valued at $302,325,000. Vanguard Group Inc. lifted its holdings in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Finally, AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.