11,896 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,896 shares of the company's stock, valued at approximately $495,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC raised its position in shares of Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares during the period. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares during the period. Renaissance Technologies LLC raised its position in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,364,145 shares of company stock valued at $181,837,741. Company insiders own 14.47% of the company's stock.

Robinhood Markets Trading Up 4.1%

Shares of HOOD traded up $4.29 during mid-day trading on Friday, reaching $109.74. The company had a trading volume of 73,491,307 shares, compared to its average volume of 30,914,668. The stock has a market cap of $97.17 billion, a price-to-earnings ratio of 62.35, a price-to-earnings-growth ratio of 5.26 and a beta of 2.36. The firm has a fifty day simple moving average of $77.63 and a 200-day simple moving average of $57.05. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.37.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.