Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Down 6.7% in March

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 30,050,000 shares, a decline of 6.7% from the March 15th total of 32,200,000 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily volume of 15,420,000 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Morgan Stanley raised their price objective on Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. Barclays raised their price target on Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.81.

Robinhood Markets Stock Down 1.1 %

Shares of HOOD opened at $17.00 on Tuesday. The company has a 50 day moving average of $16.46 and a two-hundred day moving average of $12.49. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $20.55. The company has a market cap of $14.87 billion, a price-to-earnings ratio of -28.65 and a beta of 1.68.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,212,150 shares of company stock valued at $33,495,819. Company insiders own 20.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC lifted its holdings in shares of Robinhood Markets by 1,894.6% during the first quarter. Atlas Capital Advisors LLC now owns 28,682 shares of the company’s stock worth $577,000 after purchasing an additional 27,244 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $667,000. Gulf International Bank UK Ltd boosted its holdings in shares of Robinhood Markets by 5.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 63,200 shares of the company’s stock valued at $1,272,000 after acquiring an additional 3,200 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in shares of Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after acquiring an additional 96,318 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $596,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.