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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a significant 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. Currently, 6.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 15,420,000 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

HOOD has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Mizuho boosted their price target on shares of Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Piper Sandler lifted their target price on shares of Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group upped their target price on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and a consensus price target of $18.81.

Robinhood Markets Trading Down 1.5 %

Shares of HOOD traded down $0.26 during midday trading on Wednesday, reaching $17.05. The stock had a trading volume of 6,035,082 shares, compared to its average volume of 14,835,138. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of -28.85 and a beta of 1.69. The company’s 50-day moving average is $16.59 and its 200 day moving average is $12.55.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate 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 revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. Research analysts forecast that Robinhood Markets will post 0.29 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.12, for a total transaction of $7,560,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,212,150 shares of company stock valued at $33,495,819. Corporate insiders own 20.81% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in HOOD. Raymond James & Associates boosted its holdings in Robinhood Markets by 30.3% during the first quarter. Raymond James & Associates now owns 69,419 shares of the company’s stock valued at $938,000 after acquiring an additional 16,133 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Robinhood Markets in the first quarter valued at $199,000. Bank of New York Mellon Corp raised its holdings in shares of Robinhood Markets by 21.9% in the first quarter. Bank of New York Mellon Corp now owns 53,868 shares of the company’s stock valued at $727,000 after buying an additional 9,661 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Robinhood Markets by 69.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,760 shares of the company’s stock worth $294,000 after acquiring an additional 8,882 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Robinhood Markets by 38.2% during the 1st quarter. HighTower Advisors LLC now owns 92,318 shares of the company’s stock worth $1,248,000 after buying an additional 25,502 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.