Chase Coleman’s Tiger Global Management Portfolio: 5 New Stock Picks

2. Robinhood Markets, Inc. (NASDAQ:HOOD

Tiger Global Management LLC’s Stake Value: $574,981,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 1.10%

Number of Hedge Fund Holders: 20

Robinhood Markets, Inc. (NASDAQ:HOOD), a financial services company offering commission-free trading of stocks, ETFs, and cryptocurrencies, is one of the top new stocks in Chase Coleman’s Q3 portfolio. Coleman, via Tiger Global Management, owns 13.66 million shares in Robinhood Markets, Inc. (NASDAQ:HOOD), worth almost $575 million, representing 1.10% of the firm’s Q3 portfolio. 

Robinhood Markets, Inc. (NASDAQ:HOOD) posted Q3 results on October 26. EPS in the period came in at -$0.07, missing analysts’ consensus estimates by -$0.17. Revenue for the quarter totaled $364.92 million, missing estimated revenue by -$72.63 million. 

Deutsche Bank analyst Brian Bedell reported that Robinhood Markets, Inc. (NASDAQ:HOOD) might face near-term pressure, making it an unattractive short-term investment avenue. He opened a “Sell Catalyst Call” on Robinhood Markets, Inc. (NASDAQ:HOOD), and kept a Hold rating on the stock, with a $32 price target. 

At the end of September 2021, 20 hedge funds in the database of Insider Monkey were long Robinhood Markets, Inc. (NASDAQ:HOOD), with total stakes amounting to $4.68 billion. On November 24, Cathie Wood’s ARK Investment Management purchased 233,400 shares in Robinhood Markets, Inc. (NASDAQ:HOOD).