Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 60.6% in February

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 21,760,000 shares, a growth of 60.6% from the January 31st total of 13,550,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 25,920,000 shares, the days-to-cover ratio is currently 0.8 days.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the 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 completion of the sale, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,676,469 shares of company stock worth $209,663,843 in the last three months. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $26,000. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. True Wealth Design LLC purchased a new position in Robinhood Markets during the 3rd quarter valued at about $30,000. CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. Citigroup boosted their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Barclays boosted their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded down $0.67 during mid-day trading on Tuesday, reaching $46.22. 61,853,165 shares of the company’s stock were exchanged, compared to its average volume of 29,773,029. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91. The company’s 50-day moving average is $48.53 and its 200-day moving average is $35.30.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal 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.