Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 139,916 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, August 14th, Baiju Bhatt sold 143,944 shares of Robinhood Markets stock. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12.
• 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.

Robinhood Markets Stock Up 4.8 %

NASDAQ HOOD traded up $0.94 during trading hours on Wednesday, hitting $20.64. 12,383,946 shares of the stock were exchanged, compared to its average volume of 15,800,614. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.88. The stock has a 50-day moving average of $20.58 and a 200 day moving average of $19.67. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 137.60 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter last year, the company earned $0.03 earnings per share. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HOOD. Bank of America raised their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. KeyCorp increased their target price on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Barclays upgraded Robinhood Markets from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $20.00 in a research note on Friday, September 6th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research report on Wednesday, June 26th. Finally, Morgan Stanley raised their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and an average target price of $22.83.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after acquiring an additional 1,003,535 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after purchasing an additional 2,486,986 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $84,165,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Robinhood Markets by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock worth $59,559,000 after buying an additional 672,648 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.