Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 23.2% in April

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was the recipient of a significant increase in short interest in the month of 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. Based on an average daily volume of 42,930,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 4.2% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,334,593 shares of company stock worth $114,815,021. Corporate insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

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

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $1.97 during trading hours on Friday, reaching $48.59. The company had a trading volume of 59,084,034 shares, compared to its average volume of 25,809,715. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91. The business's 50 day moving average price is $43.08 and its 200-day moving average price is $41.66. The firm has a market cap of $43.02 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business earned $0.18 earnings per share. Robinhood Markets's revenue was up 50.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on HOOD shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Citigroup dropped their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Needham & Company LLC decreased their target price on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday. KeyCorp dropped their price target on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley cut 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $53.24.

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.