Burns Matteson Capital Management LLC Trims Stake in Robinhood Markets, Inc. $HOOD

Burns Matteson Capital Management LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 61.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,282 shares of the company’s stock after selling 6,938 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Robinhood Markets were worth $613,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $29,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the second quarter worth about $34,000. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the second quarter worth approximately $36,000. Finally, LGT Financial Advisors LLC purchased a new stake in Robinhood Markets in the second quarter valued at approximately $37,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 1.9%

Shares of NASDAQ:HOOD opened at $118.13 on Friday. The stock has a market capitalization of $106.22 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 2.20 and a beta of 2.43. The stock’s 50-day moving average price is $127.79 and its 200-day moving average price is $115.18. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.17 EPS. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday. Mizuho lifted their price target on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Bank of America cut their price objective on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.30.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $122.39, for a total transaction of $717,694.96. Following the completion of the sale, the chief technology officer directly owned 20,861 shares in the company, valued at $2,553,177.79. This represents a 21.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,686,763 shares of company stock worth $475,848,059. 14.47% of the stock is owned by company insiders.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.