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

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

Robinhood Markets Trading Down 0.6 %

NASDAQ:HOOD opened at $25.50 on Friday. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $25.87. The firm has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $20.53. The stock has a market capitalization of $22.56 billion, a PE ratio of 77.28 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. On average, 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 made changes to their positions in HOOD. ORG Partners LLC bought a new position in Robinhood Markets during the second quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets during the first quarter worth $34,000. International Assets Investment Management LLC bought a new position in Robinhood Markets during the second quarter worth $40,000. Opal Wealth Advisors LLC bought a new position in Robinhood Markets during the second quarter worth $45,000. Finally, Connective Portfolio Management LLC bought a new position in Robinhood Markets during the third quarter worth $47,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOOD. Keefe, Bruyette & Woods cut their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price 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. Bank of America raised 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. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, KeyCorp raised their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Hold” and an average price target of $23.83.

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.