Vladimir Tenev Sells 750,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robinhood Markets Trading Down 3.9%

Shares of NASDAQ:HOOD traded down $3.85 on Friday, reaching $94.13. 56,373,803 shares of the company were exchanged, compared to its average volume of 29,531,505. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $100.88. The company has a 50-day moving average of $68.81 and a 200-day moving average of $53.45. The firm has a market cap of $83.35 billion, a price-to-earnings ratio of 53.48, a price-to-earnings-growth ratio of 4.80 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank purchased a new stake in Robinhood Markets in the 4th quarter valued at about $329,598,000. GQG Partners LLC acquired a new position in shares of Robinhood Markets during the 4th quarter valued at about $302,325,000. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. raised its stake in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Compass Point increased their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, Citigroup dropped their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

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.