Insider Selling: Robinhood Markets (NASDAQ:HOOD) Director Sells 57,898 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) Director Baiju Bhatt sold 57,898 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $89.63, for a total value of $5,189,397.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

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• On Wednesday, May 20th, Baiju Bhatt sold 67,422 shares of Robinhood Markets stock. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36.
• 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 value 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 value of $4,808,537.04.

Robinhood Markets Price Performance

HOOD traded up $4.93 on Monday, reaching $98.12. The company’s stock had a trading volume of 36,418,051 shares, compared to its average volume of 30,027,289. The stock has a market cap of $88.36 billion, a price-to-earnings ratio of 47.40, a price-to-earnings-growth ratio of 2.33 and a beta of 2.35. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The business’s 50 day moving average is $80.09 and its 200 day moving average is $92.02.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in HOOD. Empowered Funds LLC increased its position in Robinhood Markets by 46.7% in the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after acquiring an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $5,105,000. Federated Hermes Inc. increased its position in Robinhood Markets by 106.2% in the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after acquiring an additional 32,933 shares during the period. NewEdge Advisors LLC increased its position in Robinhood Markets by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after acquiring an additional 14,356 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $1,316,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOOD has been the topic of a number of research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Loop Capital set a $94.00 price target on Robinhood Markets in a report on Wednesday, May 27th. The Goldman Sachs Group raised their price target on Robinhood Markets from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Sanford C. Bernstein reissued an “outperform” rating and issued a $130.00 price target on shares of Robinhood Markets in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.73.

Read Our Latest Analysis on Robinhood Markets

About Robinhood Markets

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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.

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