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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 26,650,000 shares, a growth of 12.1% from the September 15th total of 23,780,000 shares. Based on an average daily volume of 14,480,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 4.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research analyst reports. Morgan Stanley lifted 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. The Goldman Sachs Group boosted their target price on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays increased their price target on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.10.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,541,250 shares of company stock worth $107,643,767 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Robinhood Markets by 66.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,737 shares of the company’s stock worth $533,000 after acquiring an additional 9,101 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Robinhood Markets by 32.3% in the third quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after purchasing an additional 6,872 shares during the period. Creative Planning raised its holdings in Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after purchasing an additional 9,094 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at $33,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Robinhood Markets by 3.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 148,609 shares of the company’s stock valued at $3,480,000 after buying an additional 5,382 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

HOOD stock traded up $0.13 on Wednesday, reaching $26.93. The company’s stock had a trading volume of 11,292,073 shares, compared to its average volume of 15,532,028. The business has a fifty day simple moving average of $21.68 and a two-hundred day simple moving average of $20.74. The firm has a market cap of $23.67 billion, a PE ratio of 179.53 and a beta of 1.84. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $27.33.

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