Central Asset Investments & Management Holdings HK Ltd Buys 89,900 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Central Asset Investments & Management Holdings HK Ltd raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1,972.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,457 shares of the specialty retailer’s stock after acquiring an additional 89,900 shares during the quarter. Alibaba Group makes up 9.9% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 2nd biggest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Alibaba Group were worth $10,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its holdings in Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC increased its position in Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BABA shares. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Down 2.2 %

BABA stock opened at $88.57 on Friday. The company has a market capitalization of $212.07 billion, a P/E ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. The firm has a 50 day simple moving average of $98.18 and a 200-day simple moving average of $85.56. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the business earned $2.47 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.