Robinhood’s chief authorized officer sells $11.3 million in inventory

Daniel Martin Gallagher Jr., the Chief Authorized Officer of Robinhood Markets , Inc. (NASDAQ:HOOD), not too long ago offered 300,000 shares of the corporate’s Class A typical inventory. The transaction, which happened on December 23, 2024, was performed beneath a Rule 10b5-1 buying and selling plan that Gallagher adopted on August 9, 2024. The sale comes as Robinhood’s inventory has surged over 200% previously yr, with the corporate now commanding a market capitalization of $34.6 billion. The shares have been offered at a weighted-average value of $37.5056, leading to a complete sale worth of roughly $11.3 million.

The sale was executed in a number of trades all through the day, with costs starting from $37.09 to $38.48. Following this transaction, Gallagher retains direct possession of 806,955 shares of Robinhood inventory.

In different latest information, Microstrategy (NASDAQ:MSTR) and different firms with important cryptocurrency publicity skilled a downturn as a result of a shift in investor sentiment, following the Federal Reserve’s alerts of rate of interest warning and a big pullback in Bitcoin‘s worth. This has led to a ripple impact, impacting shares related to digital currencies. In parallel, Robinhood Markets has been the main focus of a number of analyst companies, together with Goldman Sachs and Barclays (LON:BARC), each of which upgraded Robinhood’s shares citing optimistic outlooks on cryptocurrency and enlargement. Robinhood additionally showcased sturdy Q3 2024 revenues, with a 36% year-over-year improve to $637 million. The corporate’s latest developments embody the acquisition of TradePMR and the enlargement of its cryptocurrency choices to twenty tokens. Moreover, Robinhood’s chief authorized and compliance officer, Dan Gallagher, is being thought-about for the chair of the Securities and Trade Fee. These updates present a glimpse into latest happenings within the funding world.

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