Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Down 31.4% in November

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 16,370,000 shares, a decrease of 31.4% from the November 15th total of 23,850,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average trading volume of 19,110,000 shares, the short-interest ratio is presently 0.9 days.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,037,689 shares of company stock valued at $177,092,487. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Garden State Investment Advisory Services LLC acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $263,000. Franklin Resources Inc. acquired a new position in shares of Robinhood Markets during the third quarter worth $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Robinhood Markets during the third quarter worth $351,000. Sanctuary Advisors LLC increased its holdings in Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after buying an additional 19,345 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.87 during trading on Friday, hitting $40.20. The company’s stock had a trading volume of 18,245,149 shares, compared to its average volume of 16,822,104. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $42.76. The business has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $24.85. The company has a market capitalization of $35.54 billion, a PE ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) earnings per share. As a group, equities analysts expect that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $49.00 in a research report on Monday. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.13.

About Robinhood Markets

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.