Robinhood Markets, Inc. (NASDAQ:HOOD) Short Interest Update

01 Jan 2025, 20:39 by Danessa Lincoln · The Markets Daily

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 14,640,000 shares, a drop of 10.6% from the November 30th total of 16,370,000 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 20,970,000 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HOOD. Piper Sandler increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. KeyCorp increased their target price on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.20.

View Our Latest Stock Analysis on HOOD

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded down $1.02 during mid-day trading on Wednesday, reaching $37.26. 14,126,806 shares of the company’s stock were exchanged, compared to its average volume of 25,128,174. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 63.15, a price-to-earnings-growth ratio of 0.81 and a beta of 2.09. The firm has a 50-day moving average price of $34.78 and a two-hundred day moving average price of $26.46. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83.

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

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now directly owns 1,057,500 shares in the company, valued at approximately $23,656,275. This represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 208,291 shares of Robinhood Markets stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This represents a 37.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,320,272 shares of company stock valued at $188,022,783 over the last quarter. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp lifted its holdings in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC boosted its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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