Meyer Malka, a director at Robinhood ($HOOD), sold 2,791,306 shares of the company on 11-08-2024. We received data on the trade from a recent SEC filing. This was a sale of approximately 9.6% of their shares. Following this trade, they now own 26,138,937 shares of Robinhood stock.
Robinhood Insider Trading Activity
Robinhood insiders have traded $HOOD stock on the open market 31 times in the past 6 months. Of those trades, 0 have been purchases and 31 have been sales.
Here’s a breakdown of recent trading of $HOOD stock by insiders over the last 6 months:
- MEYER MALKA has traded it 4 times. They made 0 purchases and 4 sales, selling 6,444,205 shares.
- JASON WARNICK (Chief Financial Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 205,000 shares.
- BAIJU BHATT has traded it 8 times. They made 0 purchases and 8 sales, selling 866,026 shares.
- VLADIMIR TENEV (Chief Executive Officer) has traded it 9 times. They made 0 purchases and 9 sales, selling 2,000,000 shares.
- STEVEN M. QUIRK (Chief Brokerage Officer) sold 208,291 shares.
- DANIEL MARTIN JR GALLAGHER (Chief Legal Officer) has traded it 5 times. They made 0 purchases and 5 sales, selling 73,293 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Robinhood Hedge Fund Activity
We have seen 306 institutional investors add shares of Robinhood stock to their portfolio, and 171 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INDEX VENTURE ASSOCIATES VI LTD removed 7,233,980 shares (-16.7%) from their portfolio in Q2 2024
- FMR LLC added 4,927,180 shares (+84.5%) to their portfolio in Q2 2024
- BLUE OWL CAPITAL HOLDINGS LP removed 4,237,409 shares (-100.0%) from their portfolio in Q2 2024
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC added 3,817,355 shares (+1211858.7%) to their portfolio in Q3 2024
- BLACKROCK INC. added 3,628,071 shares (+12.3%) to their portfolio in Q2 2024
- VANGUARD GROUP INC added 3,588,058 shares (+6.3%) to their portfolio in Q2 2024
- MORGAN STANLEY added 3,107,277 shares (+60.5%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $HOOD Stock?
The bull case for Robinhood Markets Inc. centers around its strong financial performance, highlighted by a 7% increase in average margin balances, which reached $3.4 billion in Q3 2023, and a significant 20% rise in share price year-to-date, outperforming the S&P 500. The company's strategic move to enhance its Gold cash sweep yield to 4.9% has propelled Gold subscriptions and boosted cash balances from $2.6 billion to $12.6 billion since last year. With net interest revenue comprising 54% of total revenues and top-line growth projected at 13% for 2024 due to a recovering market and favorable crypto regulations, the outlook appears optimistic. Conversely, the bear case reflects serious concerns with declining trading volumes—26% in equities, 19% in options, and 46% in cryptocurrencies—and a drop in monthly active users to their lowest since early 2020, leading to reduced transaction take rates. Analysts have lowered earnings per share estimates for 2024 and 2025, adding to the negative sentiment stemming from regulatory scrutiny surrounding payment for order flow and an overall downturn in market enthusiasm, suggesting a challenging environment for Robinhood's business operations.
Background on $HOOD Stock
Robinhood Markets, Inc. (ticker symbol: $HOOD) is a financial technology company that offers a mobile app and website that provide users with a platform to trade stocks, options, ETFs (exchange-traded funds), and cryptocurrencies without paying traditional brokerage fees. Founded in 2013, Robinhood aims to democratize finance for all, making investing accessible to a wider audience. The platform is known for its user-friendly interface and innovative features, including commission-free trading and the ability to buy fractional shares. In addition, Robinhood provides educational resources and tools to help users make informed financial decisions, appealing particularly to younger, tech-savvy investors. The company has faced both accolades for its role in modernizing trading and criticisms regarding the implications of its business model and practices.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
