Jacob Rothschild’s RIT Capital Partners is Selling These 5 Stocks

1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 146

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational tech company.

 On September 29, BofA analyst Eddie Leung lowered his price target on Alibaba Group Holding Limited (NYSE:BABA) to $254 from $285 and kept a “Buy” rating on the shares. The company confirmed a recent downturn in the e-commerce market in a business update call this week. Still, Leung tells investors in a research note that the company sees a possible comeback in the September and December quarters. On September 28, Alibaba Group Holding (NYSE:BABA) started payment services from Tencent Holdings Limited’s (OTC:TCEHY) WeChat on many of its applications after the government urged large internet businesses to cease restricting each other’s services.

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Crake Asset Management is a leading shareholder in Alibaba Group Holding (NYSE:BABA) with 222,640 shares worth $50.49 billion. Hedge funds are loading up on Alibaba Group Holding (NYSE:BABA), as Insider Monkey’s data shows that 146 hedge funds held stake in the company in the second quarter of 2021, compared to 135 funds in the previous quarter.

In its second-quarter 2021 investor letter, RV Capital Management mentioned Alibaba Group Holding (NYSE:BABA). Here is what the fund said:

“The most consequential capital allocation decision in the first half-year was to increase our investment China by purchasing a new position in Alibaba.

I wrote about China in my 2019 half-year letter but given the heightened pessimism in the West today around China, I thought it was worth updating you on my thinking before getting to the discussion of our new investment in Alibaba.

I am conscious that the segue from a discussion on humility to one on China may be jarring. There are, for sure, many people better placed than me to discuss China. I hope, though, that there is value in the perspective of an informed outsider who has invested through several market panics in the past.…” (Click here to see the full text)

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