Meyer Malka Sells 80,520 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Key Points

• Meyer Malka, a director at Robinhood Markets, sold 80,520 shares of stock for a total of approximately $8.38 million, reducing his ownership position by 1.56%.
• After the sales, Malka still holds 5,069,522 shares in the company, valued at around $527.38 million.
• Robinhood's stock has seen significant trading activity, with its current market price at $104.03 and a market cap of $92.45 billion.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Meyer Malka sold 80,520 shares of Robinhood Markets stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $104.03, for a total value of $8,376,495.60. Following the completion of the transaction, the director owned 5,069,522 shares in the company, valued at approximately $527,382,373.66. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, August 28th, Meyer Malka sold 1,093,288 shares of Robinhood Markets stock. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56.

Robinhood Markets Trading Up 0.3%

Robinhood Markets stock traded up $0.34 during trading hours on Friday, hitting $104.03. 22,092,111 shares of the stock traded hands, compared to its average volume of 41,378,230. The firm's 50-day moving average price is $101.18 and its two-hundred day moving average price is $69.51. The company has a market cap of $92.45 billion, a PE ratio of 52.81, a PEG ratio of 3.77 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business's revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HOOD. MetLife Investment Management LLC boosted its holdings in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $430,000. Kovitz Investment Group Partners LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $567,000. Coldstream Capital Management Inc. bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $228,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Robinhood Markets by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company's stock valued at $1,650,000 after purchasing an additional 4,556 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of analyst reports. Morgan Stanley boosted their price target 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. Cantor Fitzgerald upped their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Mizuho upped their price target on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $100.31.

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.

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