Insider Selling: Robinhood Markets (NASDAQ:HOOD) Director Sells $4,870,685.60 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 50,317 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $96.80, for a total transaction of $4,870,685.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, July 24th, Baiju Bhatt sold 49,223 shares of Robinhood Markets stock. The shares were sold at an average price of $95.09, for a total transaction of $4,680,615.07.
• On Thursday, June 11th, Baiju Bhatt sold 57,898 shares of Robinhood Markets stock. The shares were sold at an average price of $89.63, for a total transaction of $5,189,397.74.
• On Wednesday, May 20th, Baiju Bhatt sold 67,422 shares of Robinhood Markets stock. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded down $4.72 during mid-day trading on Tuesday, hitting $91.53. 13,858,459 shares of the stock were exchanged, compared to its average volume of 28,150,137. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The stock’s fifty day simple moving average is $100.32 and its two-hundred day simple moving average is $86.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $82.29 billion, a P/E ratio of 40.32, a PEG ratio of 1.87 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $0.42 EPS. Robinhood Markets’s revenue was up 32.5% compared to the same quarter last year. As a group, analysts forecast that Robinhood Markets, Inc. will post 2.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on HOOD. Argus lifted their price target on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $120.52.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after purchasing an additional 16,375,734 shares during the last quarter. Norges Bank acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. Bank of New York Mellon Corp bought a new position in Robinhood Markets in the second quarter valued at approximately $379,695,000. Amundi boosted its stake in Robinhood Markets by 89.0% in the first quarter. Amundi now owns 6,385,232 shares of the company’s stock valued at $442,497,000 after acquiring an additional 3,007,103 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Robinhood Markets by 5,221.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock worth $289,519,000 after acquiring an additional 2,511,743 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.