Robinhood CEO Vladimir Tenev Sells Company Shares Worth Over $4 Million

Vladimir Tenev, CEO of Robinhood Markets, Inc. (NASDAQ:HOOD), made headlines as he sold a significant chunk of company shares recently. As reported, on Monday, March 4th, Tenev executed a sale of 250,000 shares at an average price of $16.76, amounting to a substantial $4,190,000. The transaction details were made public through a mandatory legal filing with the Securities and Exchange Commission (SEC), which is accessible on the SEC's website.

Prior Transactions by Vladimir Tenev

Before this large transaction, Tenev had been active in the market, selling portions of his stock holdings on several occasions:

• On February 26th, he let go of 500,000 shares for $7,560,000 at an average price of $15.12.
• On February 5th, another 250,000 shares were sold, fetching $2,652,500 with an average at $10.61.
• Back on January 4th, 250,000 shares had been sold at $12.01 per share, totaling $3,002,500.
• Lastly, on December 11th, an equivalent number of shares were sold at $11.60 each, resulting in a $2,900,000 transaction.

Robinhood Markets' Financial Performance

The stock's performance has been of interest to investors and analysts alike. It experienced an opening price of $17.00 on the corresponding Friday, with a year's range marked by a low of $7.91 and a high of $17.62. With a market capitalization standing at $14.70 billion and a precarious P/E ratio of -28.33, the company's financial health has been under scrutiny.

Crucially, the business has a 50-day simple moving average of $12.73 and a longer 200-day simple moving average of $11.02. Robinhood's last quarterly earnings surpassed expectations, posting $0.03 earnings per share against the anticipated ($0.01)—representing a significant jump from the prior year's ($0.19) per share. Revenues were up as well, achieving a 23.9% year-over-year increase.

Analysts' Perspectives on Robinhood Markets

An array of brokerages have weighed in on Robinhood Markets, leading to varied ratings. While Barclays and The Goldman Sachs Group have been somewhat conservative with their price targets, others like Piper Sandler and Mizuho have shown optimism by raising their valuation estimates. The consensus amongst them appears to be a 'Hold' rating for Robinhood's stock, with a general target price around $13.14.

Institutional Investor Activity

Institutional investors and hedge funds have also shown their interest in Robinhood Markets by adjusting their stock positions. Notable changes involve increased holding by Raymond James & Associates and new stakes by the likes of Bank of New York Mellon Corp and Cambridge Investment Research Advisors Inc. Institutional holdings count for nearly 59% of the company's stock, indicating significant institutional confidence.

About Robinhood Markets

Robinhood Markets operates as a financial services platform in the United States, revolutionizing the industry by enabling users to invest in various asset classes like stocks, ETFs, options, cryptocurrencies, and more. In addition to its brokerage services, Robinhood offers educational resources designed to empower a new generation of investors.

Robinhood, Tenev, Shares