Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Sells 250,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Vladimir Tenev also recently made the following trade(s):

• On Friday, October 4th, Vladimir Tenev sold 250,000 shares of Robinhood Markets stock. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00.
• On Wednesday, September 4th, Vladimir Tenev sold 250,000 shares of Robinhood Markets stock. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00.

Robinhood Markets Trading Up 19.6 %

HOOD traded up $4.90 during trading hours on Wednesday, hitting $29.86. 49,525,238 shares of the company’s stock were exchanged, compared to its average volume of 15,712,290. The firm has a market cap of $26.42 billion, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.84. The firm has a 50 day moving average of $23.58 and a 200 day moving average of $21.57. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $30.06.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.77 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. Allspring Global Investments Holdings LLC lifted its position in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Sparta 24 Ltd. raised its position in shares of Robinhood Markets by 905.8% in the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after buying an additional 1,463,578 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Robinhood Markets by 169.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after buying an additional 1,251,495 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Robinhood Markets by 274.7% in the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after purchasing an additional 1,218,317 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HOOD shares. Piper Sandler increased their target price on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Bank of America lifted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, JMP Securities boosted their target price on shares of Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.17.

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.