Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Up 60.6% in February

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 21,760,000 shares, an increase of 60.6% from the January 31st total of 13,550,000 shares. Based on an average trading volume of 25,920,000 shares, the short-interest ratio is presently 0.8 days. Currently, 3.0% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This represents a 98.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meyer Malka sold 64,951 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the transaction, the director now owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,676,469 shares of company stock worth $209,663,843 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

NASDAQ:HOOD traded down $0.67 during trading hours on Tuesday, reaching $46.22. 61,853,165 shares of the company traded hands, compared to its average volume of 29,773,029. The firm’s 50-day moving average is $48.53 and its 200-day moving average is $35.30. The stock has a market cap of $40.93 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.05 and a beta of 2.13. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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 13.53% and a net margin of 47.81%. As a group, research analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the topic of several analyst reports. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. JMP Securities raised their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Finally, Mizuho lifted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

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.