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

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

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the sale, the insider now owns 738,291 shares in the company, valued at approximately $7,833,267.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $132,625.00. Following the completion of the sale, the insider now directly owns 738,291 shares of the company’s stock, valued at $7,833,267.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,212,150 shares of company stock valued at $33,495,819. Insiders own 20.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management bought a new stake in Robinhood Markets in the 4th quarter worth $26,000. Covestor Ltd purchased a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $28,000. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Peoples Bank KS purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $29,000. Finally, UniSuper Management Pty Ltd bought a new position in Robinhood Markets in the third quarter worth approximately $30,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 1.5 %

NASDAQ:HOOD traded down $0.26 during trading hours on Wednesday, hitting $17.05. 6,035,082 shares of the company were exchanged, compared to its average volume of 14,835,138. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of -28.85 and a beta of 1.69. Robinhood Markets has a one year low of $7.91 and a one year high of $20.55. The company has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $12.55.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Equities research analysts predict that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HOOD. The Goldman Sachs Group raised their price target on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price for the company. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Morgan Stanley increased their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Citigroup cut Robinhood Markets from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $18.81.

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.