Robinhood Markets Inc. (HOOD) rating reiterates by Morgan Stanley


Robinhood Markets Inc.’s filing revealed that its Chief Creative Officer Bhatt Baiju unloaded Company’s shares for reported $0.87 million on Aug 11. In the deal valued at $10.68 per share,81,548 shares were sold. As a result of this transaction, Bhatt Baiju now holds 573,165 shares worth roughly $ 6.37 million.

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Then, Tenev Vladimir sold 83,333 shares, generating $953,921 in total proceeds. Upon selling the shares at $11.45, the Chief Executive Officer now owns 761,330 shares.

Before that, Gallagher Daniel Martin Jr sold 12,500 shares. Robinhood Markets Inc. shares valued at $144,559 were divested by the Chief Legal Officer at a price of $11.56 per share. As a result of the transaction, Gallagher Daniel Martin Jr now holds 585,467 shares, worth roughly $6.5 million.

Morgan Stanley reiterated its Robinhood Markets Inc. [HOOD] rating to an Equal-weight in a research note published on Friday, July 13, 2023; the price target was $13. PT values the company’s stock at a premium of 14.54 to its Friday closing price.

Price Performance Review of HOOD

On Friday, Robinhood Markets Inc. [NASDAQ:HOOD] saw its stock jump 2.02% to $11.11. On the same session, the stock had its day’s lowest price of $11.06, but rose to a high of $11.37. Over the last five days, the stock has gained 5.41%. Robinhood Markets Inc. shares have risen nearly 36.49% since the year began. Nevertheless, the stocks have risen 16.34% over the past one year. While a 52-week high of $13.23 was reached on 07/19/23, a 52-week low of $7.57 was recorded on 01/03/23. SMA at 50 days reached $11.25, while 200 days put it at $9.80. A total of 9.24 million shares were traded, compared to the trading of 28.6 million shares in the previous session.

Levels Of Support And Resistance For HOOD Stock

The 24-hour chart illustrates a support level at 10.99, which if violated will result in even more drops to 10.87. On the upside, there is a resistance level at 11.30. A further resistance level may holdings at 11.49. The Relative Strength Index (RSI) on the 14-day chart is 53.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.99%. Stochastics %K at 85.13% indicates the stock is a selling.

How much short interest is there in Robinhood Markets Inc.?

A steep rise in short interest was recorded in Robinhood Markets Inc. stocks on Aug 14, 2023, dropping by -4.2 million shares to a total of 19.44 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 23.64 million shares. There was a decline of -21.6%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.68% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.86.

Robinhood Markets Inc. [HOOD] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 54,391,884 shares, or roughly 7.01% of the outstanding HOOD shares. In other words, the investor’s shares have fallen by -294,622 from its previous 13-F filing of 54686506.0. Additionally, ARK Investment Management LLC increased 0.58% of its stake after which the total value it holdings stand at $410,488,474, while Nikko Asset Management Americas, added 2.99% of its stake to hold $322.01 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 818,646 shares of Robinhood Markets Inc., while Newlands Management Operations LL bought 13,028,672 shares. At present, Geode Capital Management LLC is holding 8,669,724 shares valued at $111.49 million. SSgA Funds Management, Inc. owned 8,333,375 shares of the company at the time of its most recent 13F filing, worth $107.17 million.

According to FactSet, Robinhood Markets Inc.’s share price will average $12.98 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.19 percent from its previous closing price of $10.89. Analysts expect Robinhood Markets Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $9.00. However, 14 analysts have rated HOOD stock as a Hold in their predictions for 2023.


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