Robinhood Markets (NASDAQ:HOOD) Director Sells 50,317 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 50,317 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $96.80, for a total value of $4,870,685.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Friday, July 24th, Baiju Bhatt sold 49,223 shares of Robinhood Markets stock. The stock was sold at an average price of $95.09, for a total value of $4,680,615.07.
• On Thursday, June 11th, Baiju Bhatt sold 57,898 shares of Robinhood Markets stock. The stock was sold at an average price of $89.63, for a total value of $5,189,397.74.
• 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.

Robinhood Markets Trading Down 4.9%

Shares of NASDAQ:HOOD traded down $4.72 during mid-day trading on Tuesday, reaching $91.53. The stock had a trading volume of 13,858,459 shares, compared to its average volume of 28,150,137. The firm has a 50 day simple moving average of $100.32 and a two-hundred day simple moving average of $86.23. 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 $82.29 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 1.87 and a beta of 2.35. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts predict that Robinhood Markets, Inc. will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of the business. Truist Financial Corp grew its stake in shares of Robinhood Markets by 88.9% in the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after buying an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after acquiring an additional 46,688 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Robinhood Markets by 196.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock valued at $81,755,000 after acquiring an additional 478,919 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Robinhood Markets by 100.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 60,000 shares of the company’s stock valued at $6,786,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its position in shares of Robinhood Markets by 107.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after acquiring an additional 141,440 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Citizens Jmp reissued a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. Cantor Fitzgerald dropped their price target on Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group cut their price objective on Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, China Renaissance initiated coverage on Robinhood Markets in a research report on Tuesday, July 7th. They issued a “buy” rating for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $120.52.

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.