Reddit Stock Portfolio: 5 Most Popular Stocks To Consider

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Funds: 146

This September, Benchmark lifted its price target on Alibaba Group Holding Limited (NYSE:BABA) to $277, with a Buy rating on the shares.

The number of hedge funds tracked by Insider Monkey having stakes in Alibaba Group Holding Limited (NYSE:BABA) increased to 146 in Q2, from 135 in the previous quarter. The total value of these stakes is over $16.7 billion.

Polen Capital Management mentioned Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2021 investor letter. Here is what the firm has to say:

Alibaba also detracted from performance as the company continues to remain under regulatory scrutiny from both the Chinese State Administration for Market Regulation on antitrust concerns and the U.S. Securities and Exchange Commission on ADR listing requirements. Despite the regulatory overhang, we believe that Alibaba’s competitive positioning and growth outlook remains intact, even if the company must pay fines or modify some business practices. We viewed the current valuation at <20x next twelve month’s earnings as a compelling opportunity to add to our position. Alibaba is the second largest position in the Portfolio.”