Robinhood Markets director Meyer Malka sells shares price $130 million

Meyer Malka, a director at Robinhood Markets , Inc. (NASDAQ:HOOD), not too long ago bought shares amounting to roughly $130 million. The transactions, carried out over two days, concerned the sale of three,219,314 shares of Class A Frequent Inventory. The sale comes as Robinhood’s inventory has surged over 227% year-to-date, with the corporate now commanding a market capitalization of $36.85 billion. In keeping with InvestingPro evaluation, the inventory is presently buying and selling above its Honest Worth. The shares had been bought at costs starting from $40.11 to $42.57 per share, close to the inventory’s 52-week excessive of $42.76. Following these transactions, Malka retains possession of three,297,605 shares not directly held by varied funds. These gross sales had been executed beneath a prearranged 10b5-1 buying and selling plan. For deeper insights into insider transactions and complete monetary evaluation, InvestingPro provides detailed analysis stories overlaying 1,400+ US shares, together with Robinhood Markets.

In different current information, Robinhood Markets has seen a number of vital developments. Goldman Sachs upgraded Robinhood’s inventory to a Purchase ranking, citing potential for growth into wealth administration and worldwide sectors. In the meantime, Keefe, Bruyette & Woods maintained a Market Carry out ranking, highlighting Robinhood’s strategic objectives and new product plans. Mizuho (NYSE:MFG) Securities elevated its worth goal for Robinhood, emphasizing the corporate’s potential to leverage market alternatives, whereas Piper Sandler adjusted its outlook, elevating the value goal and sustaining an Chubby ranking.

Robinhood has reported a 36% year-over-year enhance in Q3 2024 revenues to $637 million. The corporate additionally acquired TradePMR for $300 million, including $40 billion in property beneath administration and over 1,000 Registered Funding Advisors. Moreover, Robinhood expanded its cryptocurrency choices to twenty tokens and launched new buying and selling merchandise equivalent to Index Choices and Futures.

Analyst companies together with Deutsche Financial institution (ETR:DBKGn), Morgan Stanley (NYSE:MS), and KeyBanc Capital Markets have all adjusted their outlooks on Robinhood, citing the corporate’s potential for future progress. In current developments, Robinhood’s November 2024 working information confirmed a big enhance in Funded Clients and Belongings Beneath Custody, with buyer Web Deposits exceeding $5 billion. Lastly, Robinhood’s chief authorized and compliance officer, Dan Gallagher, is being thought of for the chair of the Securities and Trade Fee within the upcoming administration.

This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.