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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 21,760,000 shares, an increase of 60.6% from the January 31st total of 13,550,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average trading volume of 25,920,000 shares, the days-to-cover ratio is currently 0.8 days.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,688,969 shares of company stock valued at $210,141,593. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. Toronto Dominion Bank increased its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $634,000. Atomi Financial Group Inc. increased its stake in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares during the period. Requisite Capital Management LLC bought a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $266,000. Finally, Baker Avenue Asset Management LP lifted its stake in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the period. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HOOD. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays lifted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Performance

HOOD traded down $3.21 on Monday, hitting $46.89. 52,510,984 shares of the company were exchanged, compared to its average volume of 28,973,848. The firm has a fifty day simple moving average of $48.53 and a two-hundred day simple moving average of $35.30. The stock has a market capitalization of $41.52 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts expect that Robinhood Markets will post 1.35 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.