Robinhood Markets (NASDAQ:HOOD) Director Purchases $15,104,450.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Meyer Malka acquired 181,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $83.45 per share, for a total transaction of $15,104,450.00. Following the completion of the purchase, the director directly owned 3,674,427 shares in the company, valued at $306,630,933.15. This trade represents a 5.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Meyer Malka also recently made the following trade(s):

• On Thursday, May 28th, Meyer Malka acquired 249,000 shares of Robinhood Markets stock. The stock was purchased at an average price of $80.39 per share, for a total transaction of $20,017,110.00.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $82.47 on Friday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The stock’s 50-day simple moving average is $78.09 and its 200 day simple moving average is $93.03. The stock has a market capitalization of $74.27 billion, a P/E ratio of 39.84, a P/E/G ratio of 2.64 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.85 EPS for the current fiscal year.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent analyst reports. Mizuho lifted their target price on Robinhood Markets from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of Robinhood Markets in a report on Wednesday, April 29th. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. Nineteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.54.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Evolution Wealth Advisors LLC increased its position in shares of Robinhood Markets by 5.2% in the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after purchasing an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC increased its position in shares of Robinhood Markets by 4.1% in the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after purchasing an additional 98 shares during the last quarter. Vision Financial Markets LLC increased its position in shares of Robinhood Markets by 100.0% in the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Robinhood Markets by 2.5% in the third quarter. Kovack Advisors Inc. now owns 4,121 shares of the company’s stock worth $590,000 after purchasing an additional 100 shares during the last quarter. Finally, SOA Wealth Advisors LLC. increased its position in shares of Robinhood Markets by 11.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock worth $109,000 after purchasing an additional 100 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

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.