Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Down 31.4% in November

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 16,370,000 shares, a decrease of 31.4% from the November 15th total of 23,850,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average trading volume of 19,110,000 shares, the short-interest ratio is presently 0.9 days.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares of the company's stock, valued at $23,656,275. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,037,689 shares of company stock valued at $177,092,487. Corporate insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Garden State Investment Advisory Services LLC acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $263,000. Franklin Resources Inc. acquired a new position in shares of Robinhood Markets during the third quarter worth $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Robinhood Markets during the third quarter worth $351,000. Sanctuary Advisors LLC increased its holdings in Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company's stock valued at $1,481,000 after buying an additional 19,345 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock valued at $1,602,000 after buying an additional 16,219 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.87 during trading on Friday, hitting $40.20. The company's stock had a trading volume of 18,245,149 shares, compared to its average volume of 16,822,104. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $42.76. The business has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $24.85. The company has a market capitalization of $35.54 billion, a PE ratio of 66.66, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company's revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) earnings per share. As a group, equities analysts expect that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Barclays upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $26.00 to $49.00 in a research report on Monday. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and increased their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.