Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 11.4% in September

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 23,780,000 shares, an increase of 11.4% from the August 31st total of 21,340,000 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,110,000 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,204,096 shares of company stock valued at $23,603,793. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. Commerce Bank boosted its stake in shares of Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares during the period. Intech Investment Management LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $229,000. Hsbc Holdings PLC boosted its stake in shares of Robinhood Markets by 245.5% in the fourth quarter. Hsbc Holdings PLC now owns 233,289 shares of the company’s stock valued at $2,955,000 after purchasing an additional 165,772 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Robinhood Markets by 8.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 317,018 shares of the company’s stock valued at $4,039,000 after purchasing an additional 25,445 shares during the period. Finally, Evoke Wealth LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $138,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 6.5 %

HOOD traded up $1.46 during trading on Friday, hitting $23.89. 18,021,320 shares of the company’s stock were exchanged, compared to its average volume of 15,559,607. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88. The stock has a 50 day moving average price of $20.49 and a 200 day moving average price of $20.22. The firm has a market cap of $21.00 billion, a P/E ratio of 159.27 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same period in the previous year, the firm earned $0.03 earnings per share. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. Analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HOOD. Bank of America boosted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods cut their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.43.

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.