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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a large increase in short interest in 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 sold short. Based on an average trading volume of 14,480,000 shares, the days-to-cover ratio is presently 1.8 days.

Robinhood Markets Trading Down 2.2 %

HOOD traded down $0.59 during trading hours on Thursday, hitting $26.34. The company’s stock had a trading volume of 3,259,940 shares, compared to its average volume of 15,476,596. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $27.33. The company has a 50-day simple moving average of $21.68 and a 200 day simple moving average of $20.74. The firm has a market capitalization of $23.15 billion, a PE ratio of 176.07 and a beta of 1.84.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft upped 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. KeyCorp lifted their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Morgan Stanley upped their target price on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays lifted their price target on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.43.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,541,250 shares of company stock valued at $107,643,767 in the last three months. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter worth about $33,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets in the first quarter worth $34,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.