Robinhood Markets (NASDAQ:HOOD) CEO Sells $45,611,250.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Robinhood Markets Trading Down 3.9%

Shares of HOOD traded down $4.73 during midday trading on Wednesday, reaching $116.97. The stock had a trading volume of 18,787,416 shares, compared to its average volume of 22,517,914. The company has a market capitalization of $105.18 billion, a price-to-earnings ratio of 48.54, a price-to-earnings-growth ratio of 1.87 and a beta of 2.44. The company’s 50-day moving average is $124.96 and its 200 day moving average is $117.78. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s revenue was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HOOD. Hantz Financial Services Inc. raised its position in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the period. Valley National Advisers Inc. raised its holdings in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Smithfield Trust Co purchased a new position in shares of Robinhood Markets in the second quarter valued at about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Robinhood Markets in the third quarter worth about $29,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HOOD shares. JMP Securities lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. CICC Research began coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective for the company. Citigroup boosted their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.80.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.