Robinhood Markets CTO Jeffrey Tsvi Pinner Sells Shares

On March 20th, 2023, Jeffrey Tsvi Pinner, the Chief Technology Officer of Robinhood Markets, Inc. (NASDAQ:HOOD), sold 5,853 shares of the company's stock. This transaction occurred at an average price of $43.36 per share, amounting to a total value of $253,786.08. Following this sale, Pinner's direct ownership in Robinhood reduced to 11,706 shares, which are now valued at approximately $507,572.16. This sale marked a 33.33% decrease in his holdings. The details of this transaction have been filed with the Securities and Exchange Commission (SEC) and can be accessed through their official channels.

In addition to this recent transaction, Pinner has been active in selling shares previously. On March 5th, he sold another 5,853 shares at an average price of $46.81 for a total of $273,978.93. Earlier, on January 27th, he sold 5,876 shares at an average price of $47.82, totaling $280,990.32. Additionally, on January 6th, he sold 5,876 shares at an average price of $42.64, bringing in $250,552.64.

Current Stock Performance of Robinhood Markets

As of now, Robinhood Markets' stock traded up by $4.00, reaching a mid-day price of $48.36. The trading volume for the day was 50,563,276 shares, which surpasses the company's average volume of 21,212,648 shares. The stock's 50-day moving average price stands at $49.04, while the 200-day moving average is $37.41. Over the past year, Robinhood's stock has seen a low at $13.98 and a high at $66.91, with a current market capitalization of $42.82 billion. The stock has a price-to-earnings ratio of 30.80 and a price-to-earnings-growth ratio of 1.05, alongside a beta of 2.14.

Insights from Robinhood's Quarterly Earnings

Robinhood Markets recently conducted its quarterly earnings call on February 12th, where it reported earnings of $0.54 per share, exceeding the consensus estimate of $0.41 by $0.13. The company achieved a return on equity of 13.53% and maintained a net margin of 47.81%. Analysts predict that Robinhood Markets, Inc. will post earnings per share of $1.35 for the current fiscal year.

Institutional Investors' Interest

In the latest updates, several institutional investors have shifted their positions in Robinhood Markets. For instance, Wellington Management Group LLP entered a new position during the fourth quarter, valued at about $588,000. Kilter Group LLC also created a new stake valued at approximately $240,000, while Siemens Fonds Invest GmbH acquired shares worth roughly $217,000. Universal Beteiligungs und Servicegesellschaft mbH made a significant investment of about $4,886,000. Furthermore, the Employees Retirement System of Texas added a stake worth around $1,609,000. Notably, institutional investors now own about 93.27% of Robinhood's stock.

Recent Analyst Ratings

In light of the recent stock activity, several analysts have provided ratings and updates on Robinhood’s stock. The Goldman Sachs Group upgraded their rating from "neutral" to "buy," increasing the price target from $40.00 to $46.00. Morgan Stanley also raised their price target from $64.00 to $90.00, giving the company an "overweight" rating. JPMorgan Chase & Co. revised their price objective from $39.00 to $45.00 with a "neutral" rating, while KeyCorp increased their target from $57.00 to $75.00, maintaining an "overweight" rating. Lastly, Piper Sandler also raised their price target from $54.00 to $75.00, maintaining a similar outlook. From recent ratings, five analysts suggest holding, while thirteen recommend buying the stock, which leads to an average rating of "Moderate Buy" and an average price target of $61.29.

Company Overview

Robinhood Markets, Inc. operates a financial services platform in the United States. The platform enables users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. Key features include fractional trading, recurring investments, fully-paid securities lending, margin trading, cash sweep, instant withdrawals, retirement programs, 24/7 trading options, and participation in initial public offerings.

Robinhood, Pinner, Stock