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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 19,960,000 shares, a decline of 12.2% from the October 15th total of 22,740,000 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 14,860,000 shares, the days-to-cover ratio is currently 1.3 days.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the sale, the director now owns 28,930,243 shares of the company’s stock, valued at $867,907,290. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock valued at $115,477,194 over the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. raised 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 worth $28,000 after buying an additional 410 shares during the period. Eastern Bank bought a new position in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. ORG Partners LLC bought a new stake in Robinhood Markets during the 2nd quarter worth about $33,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter worth about $33,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 8.3 %

NASDAQ HOOD traded up $2.68 on Monday, reaching $35.00. The company had a trading volume of 36,906,478 shares, compared to its average volume of 16,082,386. Robinhood Markets has a 52 week low of $7.96 and a 52 week high of $35.62. The stock’s 50 day moving average is $25.77 and its 200-day moving average is $22.49. The stock has a market cap of $30.94 billion, a price-to-earnings ratio of 59.32, a PEG ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period last year, the company earned ($0.09) earnings per share. The business’s revenue was up 36.4% compared to the same quarter last year. As a group, analysts forecast that Robinhood Markets will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HOOD. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Bank of America increased their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Barclays raised their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of Robinhood Markets from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $27.34.

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.