Burns Matteson Capital Management LLC Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Burns Matteson Capital Management LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,896 shares of the company’s stock, valued at approximately $495,000.

A number of other large investors have also recently bought and sold shares of the business. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets in the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Finally, Colonial Trust Co SC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $34,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 3.7%

NASDAQ:HOOD opened at $103.25 on Thursday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $104.62. The firm has a market capitalization of $91.42 billion, a price-to-earnings ratio of 58.67, a price-to-earnings-growth ratio of 5.14 and a beta of 2.36. The stock’s 50 day moving average price is $76.60 and its two-hundred day moving average price is $56.58.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the transaction, the insider directly owned 816,887 shares of the company’s stock, valued at approximately $76,689,351.56. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher D. Payne acquired 26,500 shares of the stock in a transaction on Friday, June 13th. The shares were bought at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the purchase, the director owned 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,364,145 shares of company stock valued at $181,837,741. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Needham & Company LLC restated a “buy” rating and set a $71.00 price target on shares of Robinhood Markets in a report on Tuesday, May 27th. Mizuho boosted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Finally, JMP Securities increased their target price on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.29.

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.