Robinhood Markets (NASDAQ:HOOD) Director Baiju Bhatt Sells 67,422 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Thursday, April 16th, Baiju Bhatt sold 57,261 shares of Robinhood Markets stock. The shares were sold at an average price of $86.38, for a total transaction of $4,946,205.18.
• On Friday, March 20th, Baiju Bhatt sold 67,422 shares of Robinhood Markets stock. The shares were sold at an average price of $71.32, for a total transaction of $4,808,537.04.
• On Monday, February 23rd, Baiju Bhatt sold 65,694 shares of Robinhood Markets stock. The shares were sold at an average price of $72.30, for a total transaction of $4,749,676.20.

Robinhood Markets Trading Down 3.0%

Shares of Robinhood Markets stock opened at $73.64 on Friday. The company has a fifty day simple moving average of $76.11 and a 200-day simple moving average of $96.47. Robinhood Markets, Inc. has a 12-month low of $62.63 and a 12-month high of $153.86. The stock has a market cap of $66.31 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.46 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a report on Monday, February 9th. The Goldman Sachs Group cut their target price on shares of Robinhood Markets from $102.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. KeyCorp cut their target price on shares of Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of HOOD. Vanguard Group Inc. increased its stake in Robinhood Markets by 24.9% in the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after buying an additional 18,824,923 shares during the period. State Street Corp increased its stake in 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 buying an additional 16,375,734 shares during the period. Norges Bank acquired a new position in Robinhood Markets in the 4th quarter valued at $1,202,160,000. Amundi increased its stake in Robinhood Markets by 89.0% in the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock valued at $442,497,000 after buying an additional 3,007,103 shares during the period. Finally, Corient Private Wealth LLC increased its stake in Robinhood Markets by 5,221.4% in the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock valued at $289,519,000 after buying an additional 2,511,743 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

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.