Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Sells $5,720,000.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, September 4th, Vladimir Tenev sold 250,000 shares of Robinhood Markets stock. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00.
• On Monday, August 5th, Vladimir Tenev sold 250,000 shares of Robinhood Markets stock. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00.

Robinhood Markets Stock Performance

HOOD stock opened at $25.50 on Friday. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 170.00 and a beta of 1.84. The firm has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $20.53. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $25.87.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. Robinhood Markets’s revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. As a group, equities analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. Angeles Wealth Management LLC grew its stake in shares of Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares during the period. GAMMA Investing LLC lifted its holdings in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after purchasing an additional 710 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after acquiring an additional 1,194 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HOOD shares. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Bank of America increased their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $27.00 target price on shares of Robinhood Markets in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.83.

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.