Vladimir Tenev, the Chief Executive Officer of Robinhood Markets , Inc. (NASDAQ:HOOD), a $36.1 billion market cap company whose stock has surged over 234% in the past year according to InvestingPro data, recently sold 750,000 shares of Class A Common Stock. The transaction, which took place on January 2, 2025, was part of a pre-arranged trading plan and involved multiple trades executed at prices ranging from $37.37 to $39.68 per share, with a weighted average price of $39.1628. This sale amounted to a total value of approximately $29.37 million. The stock, which InvestingPro analysis suggests is currently overvalued, has shown remarkable momentum with a 72.3% gain over the past six months.
This transaction followed an automatic conversion of Class B Common Stock into Class A Common Stock, as stipulated by the Rule 10b5-1 trading plan adopted by Tenev. After the sale, Tenev holds 6,907 shares indirectly through a living trust, while his direct ownership post-transaction stands at 47,323,144 shares. InvestingPro subscribers can access 12 additional key insights about HOOD, including detailed valuation metrics and growth forecasts.
In other recent news, Robinhood Markets has seen a flurry of analyst activity. Piper Sandler maintained its Overweight rating on the stock, citing robust December trading volumes and a significant year-over-year increase. The firm also raised its fourth-quarter 2024 earnings per share estimate for Robinhood from $0.33 to $0.47. Goldman Sachs (NYSE:GS) reaffirmed its Buy rating, following the company's impressive 225% return over the past year and a notable 22% month-over-month growth in end-of-period assets under custody.
Barclays (LON:BARC) upgraded Robinhood's shares to Overweight, citing a positive outlook on cryptocurrency and expansion. Mizuho (NYSE:MFG) Securities increased Robinhood's price target to $60, maintaining an 'Outperform' rating, based on the company's potential to tap into a substantial total addressable market. Keefe, Bruyette & Woods maintained a 'Market Perform' rating, reflecting Robinhood's strategic goals and robust financial performance.
In terms of earnings and revenue, Robinhood reported a 36% year-over-year increase in Q3 2024 revenues to $637 million. The company's CFO, Jason Warnick, also revealed that the company had increased pricing on cryptocurrency trades in the fourth quarter of 2024, contributing to strong revenue growth. These are part of the most recent developments for the company.
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