It’s always a good idea to dig into insider buying.
After all, it’s the insiders that know they’re company the best. And if they’re putting their money where their mouths are, look into it.
Here are two that caught our attention.
Robinhood (SYM: HOOD)
Even after an explosive rally about $109, Robinhood (HOOD) could see more upside.
For one, earnings have been strong.
Its first quarter EPS of 37 cents beat estimates by four cents. Revenue of $927 million, up 50% year over year, beat by $9.84 million. Transaction-based revenues increased 77% year-over-year to $583 million, primarily driven by cryptocurrencies revenue of $252 million, up 100%, options revenue of $240 million, up 56%, and equities revenue of $56 million, up 44%.
“This quarter, we significantly accelerated product innovation across our key initiatives, highlighted by the announcement of Robinhood Strategies, Banking, and Cortex,” added Vlad Tenev, Chair and CEO of Robinhood. “Customers have clearly responded — demonstrated by record-breaking net deposits, Robinhood Gold subscriptions, and options volume, as well as robust year-over-year growth in trading across all asset classes.”
Two, the company just increased its share buyback program to $1.5 billion.
Three, director Christopher Payne just paid $2 million for 26,500 HOOD shares. He paid an average price of $74.19 each. And four, with Bitcoin expected to increase in value, HOOD should remain a strong beneficiary.
Agree Realty (SYM: ADC)
Agree Realty director John Rakolta just bought 10,000 shares for about $743,400. In December, he bought 30,275 shares for just over $2.12 million.
With a yield of 4.23%, Agree Realty is a net lease REIT with a strong focus on retail. In fact, some of its top clients include Tractor Supply, TJX Companies, Walgreens, Walmart, Dollar General, Best Buy, CVS, Hobby Lobby, and The Home Depot, to name a few.
Helping, ADC just declared a monthly dividend of $0.256, which is payable on August 14 to shareholders of record as of July 31.
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Bitcoin’s total market cap just surged past Amazon’s.
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Written by Ian Cooper