When a company’s own board member drops $35 million on its stock in a single week, it tends to get people’s attention. Especially when the stock is down nearly 40% over six months and the CEO has been heading for the exits.
Meyer Malka, an independent director at Robinhood Markets and founder of venture firm Ribbit Capital, directed his affiliated fund Bullfrog Capital to acquire 181,000 shares of HOOD on June 3 at a weighted average price of $83.45. The tab: approximately $15.1 million.
That purchase came just days after a Malka-linked fund scooped up 249,000 shares on May 28 at an average price of $80.39, a transaction worth roughly $20 million. Combined, Malka’s entities have poured over $35 million into Robinhood stock in roughly a week.
Buying when others are selling
Malka has sat on Robinhood’s board since March 2022, and as the founder of Ribbit Capital, one of Robinhood’s earliest backers, he has deep familiarity with the company’s trajectory. His entities now hold over 7.7 million shares of Robinhood Class A common stock, a position worth an estimated $647 million to $685 million based on recent market conditions.
Robinhood shares have been under significant pressure, falling approximately 27% year-to-date and roughly 38% over the prior six months as of early June 2026. The stock was trading around $82.85 at the time of the latest purchase.
Malka previously sold HOOD shares at around $104 back in August 2025. So he sold higher and is now buying lower. The gap between his sale price and his current buy-in represents a discount of roughly 20%.
The June 3 purchase prices ranged from $83.24 to $83.63. Despite Malka’s significant purchases, other insiders, including CEO Vlad Tenev, have been net sellers of Robinhood shares.
Robinhood’s crypto expansion adds context
Robinhood recently concluded its acquisition of WonderFi for C$250 million, a deal that significantly expands its footprint in the Canadian crypto market.
Look, insider buying at this scale is relatively uncommon. Most insider transactions are sales, often pre-scheduled through 10b5-1 plans that execute automatically regardless of sentiment. When an insider voluntarily writes a check for $35 million in open-market purchases, it carries a different weight than a pre-programmed sale.
What this means for investors
There are reasonable explanations for both behaviors. Executives like Tenev may be selling for diversification, tax planning, or personal liquidity reasons that have nothing to do with their outlook on Robinhood’s stock.
A $35 million purchase over one week is not a token show of confidence. It represents a material bet by someone whose existing position already sits near $700 million.