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

by · The Cerbat Gem

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction on 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 transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Robinhood Markets Stock Down 0.7 %

Shares of HOOD traded down $0.17 during trading on Thursday, reaching $25.48. The company’s stock had a trading volume of 11,833,446 shares, compared to its average volume of 15,527,698. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 171.00 and a beta of 1.84. The company has a fifty day moving average of $20.81 and a two-hundred day moving average of $20.50. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $25.87.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Bank of America lifted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Keefe, Bruyette & Woods lowered their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.83.

Check Out Our Latest Stock Report on HOOD

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after purchasing an additional 96,318 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of Robinhood Markets by 87.1% during the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares during the period. Wellington Management Group LLP acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $8,299,000. Finally, O Neil Global Advisors Inc. acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $2,298,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

(Get Free Report)

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.

See Also