Robinhood Markets, Inc. (NASDAQ:HOOD) Sees Large Growth in Short Interest

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 30,860,000 shares, an increase of 23.2% from the March 31st total of 25,050,000 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 42,930,000 shares, the short-interest ratio is presently 0.7 days.

Insider Activity

In related news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,309,593 shares of company stock worth $113,525,021. Corporate insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Robinhood Markets during the third quarter valued at $351,000. Franklin Resources Inc. purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at $6,321,000. Versant Capital Management Inc grew its stake in shares of Robinhood Markets by 6,799.1% during the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company's stock worth $856,000 after acquiring an additional 22,641 shares during the period. GAMMA Investing LLC increased its holdings in Robinhood Markets by 49.3% in the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company's stock worth $218,000 after acquiring an additional 1,935 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Robinhood Markets in the 4th quarter valued at about $634,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOOD. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Compass Point began coverage on Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price on the stock. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Morgan Stanley lowered shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective for the company. in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.24.

Robinhood Markets Trading Down 1.0 %

Shares of HOOD stock traded down $0.48 during trading on Tuesday, hitting $47.57. The company's stock had a trading volume of 11,630,811 shares, compared to its average volume of 25,803,511. The business has a fifty day moving average of $43.07 and a 200-day moving average of $41.91. The company has a market cap of $42.12 billion, a PE ratio of 30.31, a P/E/G ratio of 1.05 and a beta of 2.15. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

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.