Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $32,740,686.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 522,180 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, February 7th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44.
• On Wednesday, January 22nd, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22.
• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $45.27, for a total transaction of $4,113,503.82.
• On Friday, January 3rd, Baiju Bhatt sold 228,645 shares of Robinhood Markets stock. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65.
• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82.

Robinhood Markets Stock Performance

HOOD stock opened at $60.44 on Wednesday. The stock’s 50 day moving average price is $46.43 and its 200 day moving average price is $33.22. The firm has a market cap of $53.43 billion, a P/E ratio of 102.44, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 1 year low of $13.39 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. On average, research analysts predict that Robinhood Markets, Inc. will post 0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of analyst reports. Citigroup lifted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Barclays raised their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC raised its position in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after buying an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the last quarter. HM Payson & Co. lifted its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Finally, Commerce Bank boosted its holdings in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. 93.27% of the stock is 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.