Meyer Malka Sells 1,093,288 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Key Points

• Meyer Malka, a director at Robinhood Markets, sold over 1 million shares of the company, totaling approximately $113.56 million, which represents a 21.57% decrease in his ownership.
• Robinhood recently reported earnings of $0.42 per share, exceeding analyst expectations, and saw a 45% increase in revenue year-over-year, reaching $989 million.
• Institutional investors hold 93.27% of Robinhood's stock, with notable increases in stakes from firms like Vanguard and WCM Investment Management, indicating strong institutional interest in the company.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Meyer Malka also recently made the following trade(s):

• On Wednesday, August 27th, Meyer Malka sold 80,520 shares of Robinhood Markets stock. The stock was sold at an average price of $104.03, for a total transaction of $8,376,495.60.

Robinhood Markets Trading Up 0.3%

NASDAQ HOOD traded up $0.34 during trading on Friday, reaching $104.03. The company's stock had a trading volume of 22,092,111 shares, compared to its average volume of 41,378,230. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70. The stock has a market capitalization of $92.45 billion, a PE ratio of 52.81, a PEG ratio of 3.77 and a beta of 2.36. The business has a 50-day moving average price of $101.18 and a 200-day moving average price of $69.51.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Robinhood Markets by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company's stock valued at $7,079,564,000 after acquiring an additional 1,371,051 shares in the last quarter. Newlands Management Operations LLC grew its position in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares during the period. State Street Corp raised its stake in shares of Robinhood Markets by 9.2% in the second quarter. State Street Corp now owns 15,870,421 shares of the company's stock valued at $1,485,948,000 after acquiring an additional 1,341,204 shares in the last quarter. Geode Capital Management LLC raised its stake in Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company's stock valued at $1,233,840,000 after buying an additional 507,926 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research reports. Citigroup raised their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, JMP Securities boosted their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Company Profile

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.

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