Insider Selling: Robinhood Markets (NASDAQ:HOOD) Director Sells $5,189,397.74 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 57,898 shares of Robinhood Markets stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Stock Performance

Shares of HOOD stock traded up $4.93 during mid-day trading on Monday, hitting $98.12. 36,418,051 shares of the stock traded hands, compared to its average volume of 30,027,289. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The firm 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. The company’s 50-day simple moving average is $80.09 and its 200-day simple moving average is $92.02.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HOOD. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of Robinhood Markets in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods reduced their price objective on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on Robinhood Markets from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Mizuho raised their price objective on Robinhood Markets from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, New Street Research set a $122.00 price objective on Robinhood Markets in a research note on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.73.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the business. Aberdeen Group plc raised its holdings in Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after purchasing an additional 157,643 shares during the last quarter. NEOS Investment Management LLC bought a new stake in Robinhood Markets during the 3rd quarter worth about $11,994,000. Truist Financial Corp raised its holdings in Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after purchasing an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Robinhood Markets by 86.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after purchasing an additional 46,688 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Robinhood Markets by 26.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after purchasing an additional 76,075 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.