Robinhood Markets, Inc. (NASDAQ:HOOD) Sees Significant Increase in Short Interest

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 26,650,000 shares, an increase of 12.1% from the September 15th total of 23,780,000 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average trading volume of 14,480,000 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target on shares of Robinhood Markets in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.10.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated 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 90 days, insiders sold 4,541,250 shares of company stock valued at $107,643,767. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. ORG Partners LLC bought a new position in Robinhood Markets in the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter worth approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter worth approximately $34,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth approximately $40,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 0.7 %

NASDAQ HOOD traded down $0.20 on Tuesday, hitting $26.80. 16,429,168 shares of the stock traded hands, compared to its average volume of 15,553,230. The stock has a 50-day moving average of $21.49 and a 200 day moving average of $20.69. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $27.33. The company has a market capitalization of $23.55 billion, a P/E ratio of 178.67 and a beta of 1.84.

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

Robinhood Markets Company Profile

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.