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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 13,550,000 shares, a drop of 21.4% from the January 15th total of 17,240,000 shares. Based on an average daily trading volume, of 23,410,000 shares, the short-interest ratio is presently 0.6 days. Approximately 2.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,948,427 shares of company stock worth $165,005,244 over the last three months. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of the business. FMR LLC increased its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. State Street Corp increased its holdings in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC increased its holdings in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after buying an additional 555,299 shares during the period. Renaissance Technologies LLC increased its holdings in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares during the period. Finally, Norges Bank purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $329,598,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded up $1.48 during trading on Friday, reaching $65.28. 39,248,779 shares of the company were exchanged, compared to its average volume of 19,924,428. The firm has a market capitalization of $57.71 billion, a PE ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The business’s fifty day simple moving average is $45.45 and its 200-day simple moving average is $32.43. Robinhood Markets has a 12-month low of $13.04 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, sell-side analysts anticipate that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. JMP Securities boosted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Barclays boosted their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $58.07.

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.