Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Update

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 23,780,000 shares, an increase of 11.4% from the August 31st total of 21,340,000 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average trading volume of 14,110,000 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,204,096 shares of company stock worth $23,603,793. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. PNC Financial Services Group Inc. lifted its stake in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC acquired a new position in Robinhood Markets during the second quarter valued at $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets in the first quarter valued at $34,000. International Assets Investment Management LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $40,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Barclays raised shares of Robinhood Markets from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Hold” and an average price target of $23.63.

Robinhood Markets Stock Down 4.7 %

Shares of Robinhood Markets stock traded down $1.09 during midday trading on Tuesday, hitting $22.33. The company had a trading volume of 11,414,970 shares, compared to its average volume of 15,509,032. The company has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $20.25. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 156.60 and a beta of 1.82. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, analysts expect that Robinhood Markets will post 0.76 EPS for the current year.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.