Billionaire Ray Dalio Is Selling These 5 Tech Stocks

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106 

Alibaba Group Holding Limited (NYSE:BABA) is a diversified technology company. On August 30, news agency Reuters reported that Alibaba was among a host of Chinese firms that would receive audit inspections in the coming months. The reports emerged merely days after US and Chinese authorities agreed upon a preliminary deal that would see a third party gain access to the books of Chinese firms listed on US exchanges. The body in question is the Public Company Accounting Oversight Board. 

On August 8, Deutsche Bank analyst Leo Chiang maintained a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) stock and raised the price target to $160 from $155, noting that the present valuation of the firm was defensive. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Alibaba Group Holding Limited (NYSE:BABA), with 14.4 million shares worth more than $1.6 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alibaba Group Holding Limited (NYSE:BABA) was one of them. Here is what the fund said:

“We have eliminated 6 holdings during the first quarter (including) Alibaba Group Holding Limited (NYSE:BABA). We have sold our Alibaba Group Holding Limited (NYSE:BABA) position as the company continues to face competitive challenges and regulatory pressures remain, making it difficult (if not impossible) to appropriately assess the range of outcomes and associated probabilities for the future profitability of the business.”

You can also take a peek at 10 Cheap Dividend Kings with Over 2% Yield and 12 Best Semiconductor Stocks To Invest In Right Now.

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