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

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 the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 value of $8,376,495.60.

Robinhood Markets Stock Down 3.1%

Shares of HOOD stock traded down $3.19 during trading on Tuesday, reaching $100.84. 40,803,754 shares of the company's stock were exchanged, compared to its average volume of 35,018,416. The stock has a market capitalization of $89.61 billion, a PE ratio of 51.19, a PEG ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70. The firm's fifty day moving average price is $102.62 and its 200-day moving average price is $70.48.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 return on equity of 17.48% and a net margin of 50.13%.The firm's revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock valued at $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,186 shares during the period. Wellington Management Group LLP raised its stake in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock valued at $677,000 after buying an additional 486 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after buying an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Robinhood Markets in the first quarter valued at $277,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent research reports. Redburn Atlantic restated a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Citigroup upped their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Morgan Stanley upped their price objective on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Mizuho upped their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus 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.