Insider Selling: Robinhood Markets (NASDAQ:HOOD) Director Sells $170,865,100.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, October 21st, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The shares were sold at an average price of $133.11, for a total transaction of $55,684,971.18.
• On Wednesday, September 10th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96.
• On Thursday, August 14th, Baiju Bhatt sold 418,338 shares of Robinhood Markets stock. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82.

Robinhood Markets Trading Up 0.8%

Shares of Robinhood Markets stock opened at $132.98 on Thursday. The firm has a market cap of $118.18 billion, a PE ratio of 55.18, a PEG ratio of 3.02 and a beta of 2.42. The stock has a 50 day moving average of $132.01 and a 200 day moving average of $101.75. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company’s revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOOD. Hantz Financial Services Inc. boosted its holdings in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Hemington Wealth Management boosted its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Valley National Advisers Inc. grew its holdings in shares of Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Finally, Smithfield Trust Co bought a new stake in Robinhood Markets during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JMP Securities upped their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Citizens Jmp lifted their price target on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $132.65.

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.