Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 108,964 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 108,964 shares of Robinhood Markets stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $62,823.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, October 17th, Baiju Bhatt sold 98,404 shares of Robinhood Markets stock. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60.
• On Monday, September 9th, Baiju Bhatt sold 139,916 shares of Robinhood Markets stock. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80.
• On Wednesday, August 14th, Baiju Bhatt sold 143,944 shares of Robinhood Markets stock. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12.

Robinhood Markets Trading Down 1.7 %

HOOD traded down $0.50 during trading on Thursday, hitting $29.36. The stock had a trading volume of 24,858,824 shares, compared to its average volume of 15,754,972. The firm has a market cap of $25.95 billion, a PE ratio of 50.51, a P/E/G ratio of 0.58 and a beta of 1.84. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $30.06. The company has a 50 day simple moving average of $23.77 and a 200-day simple moving average of $21.62.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Signaturefd LLC boosted its position in Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares in the last quarter. Castleview Partners LLC boosted its position in Robinhood Markets by 18.2% in the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after buying an additional 582 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after purchasing an additional 598 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several analyst reports. Barclays upped their price objective on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their target price on Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. JMP Securities boosted their target price on Robinhood Markets from $30.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.17.

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.