Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 19.5% in November

Robinhood Markets, Inc. (NASDAQ:HOOD) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 23,850,000 shares, a growth of 19.5% from the October 31st total of 19,960,000 shares. Based on an average trading volume of 16,860,000 shares, the short-interest ratio is presently 1.4 days. Currently, 3.9% of the company’s stock are sold short.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the transaction, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Insiders sold 4,673,049 shares of company stock valued at $114,711,569 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOOD. FMR LLC raised its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of HOOD opened at $37.62 on Tuesday. Robinhood Markets has a 52-week low of $9.33 and a 52-week high of $39.74. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 65.19, a PEG ratio of 0.87 and a beta of 1.84. The business’s fifty day moving average is $28.43 and its 200-day moving average is $23.70.

Robinhood Markets (NASDAQ:HOOD) last posted its 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). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the company posted ($0.09) EPS. As a group, research analysts forecast that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

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.