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

Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible 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 transaction of $5,720,000.00.
• 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.

Robinhood Markets Stock Up 19.6 %

Robinhood Markets stock opened at $29.86 on Thursday. The business’s 50-day simple moving average is $23.58 and its 200 day simple moving average is $21.57. The stock has a market cap of $26.42 billion, a price-to-earnings ratio of 50.61, a P/E/G ratio of 0.58 and a beta of 1.84. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $30.06.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HOOD shares. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. Bank of America increased their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One 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, the company currently has an average rating of “Hold” and an average target price of $25.17.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Robinhood Markets by 46.5% in the fourth 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 during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets in the 1st quarter valued at about $34,000. Commonwealth Equity Services LLC lifted its position in shares of Robinhood Markets by 40.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock worth $928,000 after purchasing an additional 13,202 shares during the period. Private Advisor Group LLC grew its holdings in Robinhood Markets by 803.7% during the 1st quarter. Private Advisor Group LLC now owns 99,521 shares of the company’s stock worth $2,003,000 after acquiring an additional 88,508 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Robinhood Markets by 15.1% during the first quarter. Nordea Investment Management AB now owns 33,852 shares of the company’s stock worth $679,000 after acquiring an additional 4,447 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.