5 Best Robotics Stocks To Buy According To Hedge Funds

3. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese company that provides platforms and infrastructure to enable retailers and merchants to connect with their customer base. It also has a fleet of robots that aid it in its warehousing operations. The company is headquartered in Hangzhou, the People’s Republic of China.

Alibaba Group Holding Limited (NYSE:BABA) also operates its own fleet of Xiaomanlv robots that are responsible for making deliveries to its customers. It aims to expand its current fleet of robots to 10,000 in the next couple of years, to deliver a staggering 1 million parcels daily. These robots crossed the 1 million packages delivered in China in September 2021.

Deutsche Bank raised Alibaba Group Holding Limited (NYSE:BABA)’s share price target to $160 from $155 in August 2022 stating that its earnings report is impressive and a fast macro recovery will bode well for the firm. Insider Monkey’s Q2 2022 survey of 895 hedge funds saw 106 as having held a stake in the company.

Alibaba Group Holding Limited (NYSE:BABA)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 1.6 million shares that are worth $1.6 billion.