While Executives Sell, This Billionaire-Backed Fund Is Quietly Accumulating Robinhood Stock

Meyer “Micky” Malka, a Robinhood (NASDAQ:HOOD | HOOD Price Prediction) director and founder of fintech-focused Ribbit Capital, made an open-market purchase of 249,000 Class A shares on May 28, 2026, according to a Form 4 filing on June 1. The weighted-average price was $80.3944, with a fill range of $80.05 to $80.68, and the fund’s stake rose to 3,493,427 shares held indirectly through Ribbit-affiliated entities. Against a backdrop of routine pre-planned selling by CEO Vlad Tenev, co-founder Baiju Bhatt, CFO Shiv Verma, and CLO Dan Gallagher, this stands out as the only meaningful affirmative buy on the tape.

What Malka Actually Did

Robinhood is the brokerage best known to retail traders, and Malka has been on its board through its public-market life. Ribbit is among the most credentialed fintech investors anywhere. The buy is meaningful precisely because open-market purchases are rare for Robinhood insiders, who overwhelmingly sell through 10b5-1 plans. Robinhood shares closed at $82.85 on June 3, down 26.8% year to date but up 8.7% in the past week, putting Malka’s average fill near current levels.

Note that Malka disclaims beneficial ownership of shares beyond his pecuniary interest, and the shares sit inside Ribbit fund vehicles, not in his personal account. Two days before the buy, a related Ribbit entity (Bullfrog) set up a FLEX put hedge on the stock, with strikes at $100 (sold), $75 (bought), and $45 (sold), expiring December 31, 2027. That collar protects against a moderate drawdown while preserving upside, so this looks like a fund insider stepping in on a pullback within a hedged fund structure.

The Thesis That the Filing Implies

The purchase lands after a noisy quarter. Robinhood’s Q1 2026 revenue of $1.067 billion missed the $1.136 billion consensus by 6.07%; EPS of $0.38 missed the $0.3877 estimate by 1.99%, driven by a 47% year-over-year collapse in crypto revenue to $134 million. The franchise underneath kept building: event contracts revenue surged 320%, equities revenue rose 46%, net interest revenue climbed 24% to $359 million, and the margin book nearly doubled to $17 billion. Robinhood Gold subscribers hit a record 4.3 million, up 36% year over year, and the U.S. Treasury selected the company as broker and sole initial trustee for Trump Accounts.

Management is using the lower price too. The board refreshed a $1.5 billion buyback authorization in March 2026, with $250 million repurchased in Q1 at roughly $81 per share.

Should Retail Follow?

Open-market buys carry more signal than scheduled sells, because nothing forces an insider to write the check. Malka chose to do so with shares trading well below the $153.86 52-week high near $82 after a 26.8% YTD drawdown, while a Securities Act class-action tied to the 2021 IPO drew Supreme Court attention and Reddit sentiment swung back to bearish (score of 32) on June 3.

For a retirement-focused investor, the takeaway is calibrated. Malka’s purchase confirms that a top fintech specialist views the low $80s as a reasonable entry point for a diversifying franchise. The hedge alongside it suggests he respects the tail risk in crypto cyclicality, litigation overhang, and a 43 trailing P/E with a 2.29 beta. Both are worth watching as the thesis develops.