Baiju Bhatt Sells 139,916 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

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

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 value 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 value 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 value of $2,622,118.38.

Robinhood Markets Stock Up 4.8 %

Shares of NASDAQ:HOOD traded up $0.94 during trading on Wednesday, reaching $20.64. 12,383,946 shares of the company’s stock traded hands, compared to its average volume of 15,800,614. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88. The firm has a market cap of $18.14 billion, a PE ratio of 137.60 and a beta of 1.83. The company has a 50-day simple moving average of $20.58 and a 200-day simple moving average of $19.67.

Robinhood Markets (NASDAQ:HOOD) last posted 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 firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period last year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and upped their target price for the company from $20.00 to $23.00 in a research note on Monday, August 12th. The Goldman Sachs Group upped their target price on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. KeyCorp increased their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Bank of America increased their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.83.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HOOD. ORG Partners LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at approximately $40,000. Opal Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at approximately $45,000. Finally, Spire Wealth Management purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $26,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.