Short Interest in Robinhood Markets, Inc. (NASDAQ:HOOD) Grows By 12.1%

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a significant 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 trading volume of 14,480,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 4.6% of the company’s stock are short sold.

Robinhood Markets Trading Up 0.5 %

Shares of HOOD traded up $0.13 during trading hours on Wednesday, reaching $26.93. 11,292,073 shares of the stock traded hands, compared to its average volume of 15,532,028. The company has a market cap of $23.67 billion, a P/E ratio of 179.53 and a beta of 1.84. The company’s 50-day moving average price is $21.68 and its two-hundred day moving average price is $20.74. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $27.33.

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

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock worth $107,643,767 over the last three months. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the 3rd quarter valued at approximately $33,000. ORG Partners LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets in the 1st quarter worth $34,000. International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the second quarter worth about $45,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HOOD shares. Morgan Stanley raised their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Barclays raised their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group lifted their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.10.

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.