5 Stocks to Buy According to Teresa Barger’s Cartica Management

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1. Alibaba Group Holding Limited (NYSE:BABA)

Cartica Management’s Stake Value: $28,295,000
Percentage of Cartica Management’s 13F Portfolio: 10.98%
Number of Hedge Fund Holders: 106

A worldwide technology firm headquartered in Hangzhou, China, Alibaba Group Holding Limited (NYSE:BABA) is the largest stock holding of Cartica Management, accounting for 10.98% of the overall portfolio. On October 3, Jiong Shao, an analyst at Barclays, decreased his price objective on Alibaba Group Holding Limited (NYSE:BABA) from $161 to $135 while maintaining an ‘Overweight’ rating on the stock. The analyst justified the goal reduction by pointing to recent currency depreciation in China.

Ken Fisher’s Fisher Asset Management held a substantial stake in Alibaba Group Holding Limited (NYSE:BABA) at the end of the second quarter of 2022, amounting to $1.65 billion. In addition, Insider Monkey spotted 106 hedge funds that were long Alibaba Group Holding Limited (NYSE:BABA) at the end of Q2 2022. The collective stakes of these hedge funds totaled $7.43 billion, compared to $5.70 billion a quarter ago with 100 positions.

Distillate Capital Partners LLC mentioned Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2022 investor letter. Here is what the fund said:

“Changes & Regional Weights:   The largest new position is Alibaba Group Holding Limited (NYSE:BABA), which underperformed considerably and has seen its enterprise value fall by almost two thirds from its peak despite a net cash position on its balance sheet.”

You can also take a peek at 10 Stocks to Buy According to Richard Scott Greeder’s Broad Bay Capital and 10 Stocks to Buy According to Bulldog Investors.

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