Meyer Malka Sells 3,225,806 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Robinhood Markets Trading Up 3.0 %

Shares of HOOD opened at $26.27 on Friday. The company’s 50 day simple moving average is $21.08 and its 200-day simple moving average is $20.58. The firm has a market cap of $23.09 billion, a PE ratio of 175.13 and a beta of 1.84. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $26.65.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate 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 for the quarter 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 research analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HOOD. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays boosted their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley raised their price target on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.83.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the period. Banque Cantonale Vaudoise boosted its holdings in shares of Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after acquiring an additional 2,700 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $8,299,000. Finally, O Neil Global Advisors Inc. purchased a new position in Robinhood Markets during the second quarter worth about $2,298,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.