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

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 transaction, the director now owns 7,863 shares of the company's stock, valued at $584,142.27. This trade represents a 98.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $55.34, for a total transaction of $5,210,593.04.
• On Monday, April 28th, Baiju Bhatt sold 94,156 shares of Robinhood Markets stock. The shares were sold at an average price of $50.67, for a total transaction 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 transaction 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 value of $2,180,456.51.
• On Friday, March 21st, Baiju Bhatt sold 223,528 shares of Robinhood Markets stock. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88.

Robinhood Markets Stock Performance

Shares of HOOD stock traded down $1.24 during midday trading on Friday, hitting $72.60. 27,696,951 shares of the company were exchanged, compared to its average volume of 27,333,775. The firm has a market capitalization of $64.28 billion, a P/E ratio of 46.24, a PEG ratio of 1.05 and a beta of 2.25. The firm's 50 day moving average price is $56.22 and its two-hundred day moving average price is $48.65. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $77.80.

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 the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Robinhood Markets

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Aigen Investment Management LP increased its holdings in Robinhood Markets by 161.2% in the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after acquiring an additional 52,988 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at approximately $207,000. Finally, Fiduciary Alliance LLC bought a new stake in Robinhood Markets in the first quarter worth $2,177,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Barclays cut their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, KeyCorp lowered their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.17.

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.