Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $2,714,757.60 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 154,160 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $17.61, for a total value of $2,714,757.60. Following the completion of the transaction, the director now owns 36,045 shares of the company’s stock, valued at approximately $634,752.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, April 18th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The stock was sold at an average price of $17.16, for a total value of $286,005.72.
• On Tuesday, March 19th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The shares were sold at an average price of $17.17, for a total value of $286,172.39.
• On Tuesday, March 12th, Baiju Bhatt sold 157,177 shares of Robinhood Markets stock. The stock was sold at an average price of $16.41, for a total value of $2,579,274.57.
• On Thursday, February 29th, Baiju Bhatt sold 16,667 shares of Robinhood Markets stock. The shares were sold at an average price of $16.17, for a total value of $269,505.39.
• On Monday, February 26th, Baiju Bhatt sold 482,667 shares of Robinhood Markets stock. The shares were sold at an average price of $15.10, for a total value of $7,288,271.70.
• On Wednesday, February 21st, Baiju Bhatt sold 188,077 shares of Robinhood Markets stock. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89.

Robinhood Markets Trading Down 1.1 %

Shares of NASDAQ HOOD traded down $0.19 during midday trading on Thursday, reaching $17.12. 7,120,451 shares of the company were exchanged, compared to its average volume of 14,356,102. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $20.55. The stock has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $12.84. The stock has a market cap of $14.97 billion, a P/E ratio of -28.43 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC raised its stake in shares of Robinhood Markets by 61.1% in the 3rd quarter. CWM LLC now owns 8,488 shares of the company’s stock valued at $83,000 after purchasing an additional 3,219 shares in the last quarter. DnB Asset Management AS bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $545,000. SG Americas Securities LLC bought a new stake in Robinhood Markets during the third quarter worth approximately $1,449,000. Exchange Traded Concepts LLC boosted its holdings in Robinhood Markets by 174.1% during the third quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock worth $114,000 after buying an additional 7,387 shares in the last quarter. Finally, Oak Thistle LLC boosted its holdings in Robinhood Markets by 75.8% during the third quarter. Oak Thistle LLC now owns 45,461 shares of the company’s stock worth $446,000 after buying an additional 19,597 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on HOOD. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Morgan Stanley boosted their price target on Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Mizuho boosted their price target on Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Sanford C. Bernstein started coverage on Robinhood Markets in a research report on Thursday, March 14th. They set an “outperform” rating and a $30.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.88.

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.