Baiju Bhatt Sells 143,944 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 143,944 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, July 12th, Baiju Bhatt sold 120,236 shares of Robinhood Markets stock. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20.
• On Thursday, June 20th, Baiju Bhatt sold 121,226 shares of Robinhood Markets stock. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38.
• On Thursday, May 30th, Baiju Bhatt sold 116,669 shares of Robinhood Markets stock. The stock was sold at an average price of $22.02, for a total transaction of $2,569,051.38.

Robinhood Markets Stock Up 2.2 %

Robinhood Markets stock traded up $0.43 during midday trading on Friday, hitting $19.98. 14,038,567 shares of the stock were exchanged, compared to its average volume of 16,365,537. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88. The company has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $18.59. The stock has a market capitalization of $17.56 billion, a PE ratio of 130.33 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $24.00 in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Bank of America raised their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.70.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Angeles Wealth Management LLC increased its holdings in Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after buying an additional 610 shares during the last quarter. GAMMA Investing LLC increased its holdings in Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after buying an additional 710 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Commerce Bank increased its holdings in Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after buying an additional 917 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after buying an additional 1,194 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.