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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a large increase in short interest during 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. Approximately 4.2% of the company’s shares are sold short. Based on an average daily trading volume, of 42,930,000 shares, the days-to-cover ratio is currently 0.7 days.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 94,156 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $50.67, for a total transaction of $4,770,884.52. Following the completion of the sale, the director now directly owns 7,863 shares in the company, valued at approximately $398,418.21. This represents a 92.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334,593 shares of company stock worth $114,815,021 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Robinhood Markets in the third quarter worth $351,000. Franklin Resources Inc. bought a new position in Robinhood Markets in the 3rd quarter worth about $6,321,000. Versant Capital Management Inc increased its position in shares of Robinhood Markets by 6,799.1% during the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock valued at $856,000 after buying an additional 22,641 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Robinhood Markets by 49.3% in the fourth quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock worth $218,000 after buying an additional 1,935 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $634,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HOOD shares. Needham & Company LLC reduced their target price on Robinhood Markets from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. JMP Securities restated a “market outperform” rating and issued a $70.00 target price on shares of Robinhood Markets in a report on Thursday. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Barclays cut their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $53.24.

Robinhood Markets Trading Up 4.2 %

HOOD opened at $48.59 on Friday. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a market cap of $43.02 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17. The company’s fifty day moving average price is $43.08 and its two-hundred day moving average price is $41.56.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

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.