Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells 90,866 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction 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 value 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 transaction of $7,111,778.82.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $2.93 during trading hours on Tuesday, reaching $53.34. 24,012,893 shares of the company traded hands, compared to its average volume of 20,885,057. The firm has a 50-day moving average price of $43.87 and a 200 day moving average price of $31.51. The company has a market cap of $47.15 billion, a P/E ratio of 90.41, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets, Inc. has a 12-month low of $11.43 and a 12-month high of $57.27.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Morgan Stanley raised their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Citigroup boosted their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, KeyCorp boosted their target price on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the 4th quarter worth approximately $26,000. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% during 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 during the last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets in the third quarter worth $30,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter worth $30,000. Finally, Creative Financial Designs Inc. ADV grew its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.