Insider Selling: Robinhood Markets (NASDAQ:HOOD) CEO Sells 750,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, September 15th, Vladimir Tenev sold 3,525,932 shares of Robinhood Markets stock. The stock was sold at an average price of $114.57, for a total value of $403,966,029.24.
• On Wednesday, July 16th, Vladimir Tenev sold 385,485 shares of Robinhood Markets stock. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50.
• On Monday, July 14th, Vladimir Tenev sold 114,175 shares of Robinhood Markets stock. The shares were sold at an average price of $101.65, for a total value of $11,605,888.75.
• On Friday, July 11th, Vladimir Tenev sold 340 shares of Robinhood Markets stock. The stock was sold at an average price of $101.50, for a total transaction of $34,510.00.

Robinhood Markets Stock Up 2.0%

Robinhood Markets stock opened at $148.67 on Friday. The company has a fifty day simple moving average of $114.45 and a 200-day simple moving average of $82.60. The firm has a market capitalization of $132.12 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $22.61 and a 52-week high of $150.21.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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 firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HOOD. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Redburn Atlantic reiterated a “sell” rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Compass Point lifted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $113.59.

Institutional Trading of Robinhood Markets

Hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC grew its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the second quarter worth about $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the second quarter worth about $951,479,000. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. raised its holdings in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.