Robinhood director Baiju Bhatt sells $5.16M HOOD shares

Baiju Bhatt, a director and 10% owner of Robinhood Markets, Inc. (NASDAQ:HOOD), sold 50,912 shares of the company’s Class A Common Stock on October 21, 2026, for a total of approximately $5.16 million. The transactions were executed by the Baiju Bhatt Living Trust pursuant to a Rule 10b5-1 trading plan. The shares were sold at prices ranging from $98.96 to $102.87. The stock has since declined to $95.07, down 32% over the past year. According to InvestingPro analysis, HOOD appears overvalued at current levels, landing it on the platform’s most overvalued stocks list.

The sales followed an automatic conversion of 50,912 shares of Class B Common Stock into Class A Common Stock immediately prior to their disposition.

The sales occurred in four separate transactions on the same day:

10,500 shares were sold at a weighted-average price of $99.4705, with individual trades ranging from $98.96 to $99.95.

6,000 shares were sold at a weighted-average price of $100.3752, with individual trades ranging from $99.96 to $100.94.

11,232 shares were sold at a weighted-average price of $101.7191, with individual trades ranging from $101.01 to $102.00.

A final block of 23,180 shares was sold at a weighted-average price of $102.3836, with individual trades ranging from $102.01 to $102.87.

Following these transactions, the Baiju Bhatt Living Trust holds no Class A Common Stock from the converted shares, but continues to indirectly hold 46,754,654 shares of Class B Common Stock. For deeper insights into HOOD’s valuation and performance, InvestingPro offers access to over 10 additional exclusive tips and comprehensive financial metrics for this $86.8 billion fintech company.

In other recent news, Robinhood Markets is set to release its earnings results on October 27, with options data suggesting a potential stock movement of 7.8% following the announcement. Analysts have shown interest in the company’s future, with Rosenblatt Securities initiating coverage with a buy rating and a price target of $135.00, highlighting Robinhood’s transformation from a trading app to a comprehensive financial platform. Mizuho also reiterated an Outperform rating, setting a price target of $140.00, following a survey of over 600 active users about their interest in perpetual stock futures. The timing for the introduction of these futures remains uncertain. Rosenblatt emphasized Robinhood’s role in revolutionizing the investment industry by making it accessible to a new generation, which has prompted traditional players to adapt. These developments reflect the ongoing interest and potential growth outlook for Robinhood Markets.