Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Director Sells $2,696,071.12 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, July 12th, Baiju Bhatt sold 120,236 shares of Robinhood Markets stock. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20.
• On Thursday, June 20th, Baiju Bhatt sold 121,226 shares of Robinhood Markets stock. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38.
• On Thursday, May 30th, Baiju Bhatt sold 116,669 shares of Robinhood Markets stock. The shares were sold at an average price of $22.02, for a total transaction of $2,569,051.38.

Robinhood Markets Trading Up 2.2 %

HOOD stock opened at $19.98 on Monday. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 133.20 and a beta of 1.83. The firm’s 50-day moving average price is $21.46 and its two-hundred day moving average price is $18.76. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the previous year, the business earned $0.03 EPS. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. Equities analysts predict that Robinhood Markets, Inc. will post 0.57 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the business. Quarry LP boosted its holdings in Robinhood Markets by 180.7% in the second quarter. Quarry LP now owns 4,042 shares of the company’s stock valued at $92,000 after acquiring an additional 2,602 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Robinhood Markets by 58,832.8% in the 2nd quarter. NewEdge Advisors LLC now owns 39,485 shares of the company’s stock worth $897,000 after purchasing an additional 39,418 shares during the period. Creative Planning boosted its stake in shares of Robinhood Markets by 142.8% during the 2nd quarter. Creative Planning now owns 26,290 shares of the company’s stock valued at $597,000 after purchasing an additional 15,464 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at about $17,719,000. Finally, The Manufacturers Life Insurance Company raised its stake in Robinhood Markets by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 139,902 shares of the company’s stock worth $3,177,000 after buying an additional 11,146 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOOD. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Keefe, Bruyette & Woods lowered their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Bank of America upped their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Barclays reduced their price objective on Robinhood Markets from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.70.

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.