Among the hedge funds tracked by Insider Monkey, many hedge funds opted to increase their holding in the stock significantly through the first three months of the year. Notably, Louis Bacon‘s Moore Global Investment bought close to 2 million shares during the first quarter, as it increased its holding in the stock by around 1,437%. Richard Gerson and Navroz D. Udwadia’s Falcon Edge Capital, Boykin Curry’s Eagle Capital Management, Alec Litowitz and Ross Laser’s Magnetar Capital, and Andreas Halvorsen‘s Viking Global increased their own holdings in the stock by 182%, 139%, 145%, and 88% respectively. Doug Silverman and Alexander Klabin’s Senator Investment Group opened a fresh position in the stock, as it bought around 1.1 million shares of the company during the first quarter. On the flip side, Dan Loeb‘s Third Point, James Dinan’s York Capital Management, and John Paulson’s Paulson & Co opted to walk out of this stock during the first trimester, as they sold their entire stakes consisting of 10 million, 2.8 million, and 1.9 million shares of the company respectively.
With the smart money not being particularly excited about Alibaba at the moment, we don’t recommend buying the stock at this time.