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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 13,550,000 shares, a decrease 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 days-to-cover ratio is currently 0.6 days. Currently, 2.3% of the company’s stock are short sold.

Robinhood Markets Stock Performance

HOOD traded up $1.48 during trading on Friday, reaching $65.28. The stock had a trading volume of 39,248,779 shares, compared to its average volume of 19,924,428. The stock has a market cap of $57.71 billion, a PE ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a one year low of $13.04 and a one year high of $66.91. The business has a 50-day moving average of $45.45 and a 200-day moving average of $32.43.

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

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays upped their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, KeyCorp upped their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.07.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank purchased a new stake in Robinhood Markets in the fourth quarter worth about $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership purchased a new stake in Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after buying an additional 3,994,745 shares during the period. 93.27% of the stock is owned by institutional investors.

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.