Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $5,028,524.44 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares in the company, valued at $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, January 22nd, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22.
• On Wednesday, January 15th, Baiju Bhatt sold 90,866 shares of Robinhood Markets stock. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82.
• On Friday, January 3rd, Baiju Bhatt sold 228,645 shares of Robinhood Markets stock. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65.
• On Wednesday, December 11th, Baiju Bhatt sold 186,514 shares of Robinhood Markets stock. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $2.93 during midday trading on Tuesday, reaching $53.34. The company’s stock had a trading volume of 24,012,893 shares, compared to its average volume of 20,885,057. Robinhood Markets, Inc. has a 52-week low of $11.43 and a 52-week high of $57.27. The stock has a market capitalization of $47.15 billion, a P/E ratio of 90.41, a PEG ratio of 0.73 and a beta of 2.13. The stock’s 50-day simple moving average is $43.87 and its 200-day simple moving average is $31.51.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the period. GQG Partners LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $302,325,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HOOD shares. Barclays raised their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. KeyCorp increased their price target on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $46.67.

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.