Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Robinhood Markets , Inc. (NASDAQ:HOOD) Chief Executive Officer Vladimir Tenev sold a total of 114,515 shares of Class A Common Stock on July 11 and July 14. The sales, executed under a pre-arranged 10b5-1 trading plan, fetched prices ranging from $101.50 to $101.6497, resulting in proceeds of approximately $11.6 million. The timing is notable as Robinhood’s stock trades near its 52-week high of $101.89, having delivered an impressive 317% return over the past year. According to InvestingPro analysis, the stock appears overvalued at current levels.
Specifically, on July 11, Tenev sold 340 shares at $101.50 per share. Following this, on July 14, he sold 114,175 shares at a weighted average price of $101.6497.
On July 11, Tenev also converted 114,515 shares of Class B Common Stock into Class A Common Stock.
Following these transactions, Tenev directly holds 0 shares of Class A Common Stock. Tenev indirectly holds 6,907 shares through a living trust.
In other recent news, The Trade Desk (NASDAQ:TTD) is set to join the S&P 500 index effective July 18, 2025, replacing ANSYS (NASDAQ:ANSS) Inc., which is being acquired by Synopsys Inc (NASDAQ:SNPS). This inclusion is a significant development for The Trade Desk, as companies joining the S&P 500 often see increased visibility and liquidity. Meanwhile, Robinhood Markets is under investigation by Florida authorities over claims of deceptive practices in its cryptocurrency trading operations. The probe focuses on whether Robinhood misled consumers about trading costs, potentially violating Florida’s Deceptive and Unfair Practices Act.
Additionally, Robinhood’s CEO Vlad Tenev’s AI startup, Harmonic (NASDAQ:HLIT) AI, has raised $100 million in Series B funding to develop advanced AI systems for solving complex mathematical problems. Investment firms such as Kleiner Perkins and Sequoia Capital participated in this funding round, valuing the startup at $875 million. In another development, Raymond (NSE:RYMD) James has reiterated its Market Perform rating for Robinhood, citing impressive account growth but expressing caution about the stock’s current valuation. Furthermore, Glass Lewis (JO:LEWJ) has recommended WonderFi shareholders vote in favor of the company’s proposed acquisition by Robinhood, following a similar endorsement from Institutional Shareholder Services. The transaction involves Robinhood’s subsidiary acquiring all outstanding WonderFi shares, reflecting ongoing consolidation in the cryptocurrency trading sector.
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