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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 30,050,000 shares, a drop of 6.7% from the March 15th total of 32,200,000 shares. Based on an average daily volume of 15,420,000 shares, the short-interest ratio is presently 1.9 days. Currently, 6.9% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities analysts have commented on HOOD shares. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Sanford C. Bernstein initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective for the company. Piper Sandler boosted their target price on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JMP Securities upped their price objective on Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.81.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the completion of the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The disclosure for this sale can be found here. Insiders have sold 2,212,150 shares of company stock valued at $33,495,819 in the last quarter. Corporate insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $26,000. Covestor Ltd purchased a new stake in Robinhood Markets in the 1st quarter valued at about $28,000. Quantbot Technologies LP acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $28,000. Peoples Bank KS purchased a new position in shares of Robinhood Markets during the 3rd quarter worth about $29,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Robinhood Markets by 46.5% in 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 during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

HOOD stock opened at $17.08 on Thursday. The stock’s 50 day moving average price is $16.72 and its 200 day moving average price is $12.58. The firm has a market cap of $14.94 billion, a P/E ratio of -28.47 and a beta of 1.69. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. On average, research analysts predict that Robinhood Markets will post 0.29 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.