Aljian Capital Management LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Aljian Capital Management LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, HoldingsChannel reports. The fund purchased 4,039 shares of the specialty retailer’s stock, valued at approximately $429,000.

Several other large investors have also made changes to their positions in BABA. Assenagon Asset Management S.A. boosted its position in shares of 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 acquiring an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC boosted 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 valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its position in shares of Alibaba Group by 384.2% during 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 in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Alibaba Group by 523.8% in 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.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research analyst reports. Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. StockNews.com cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Price Performance

Shares of BABA stock opened at $88.59 on Monday. The stock has a 50 day moving average price of $98.18 and a 200 day moving average price of $85.70. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $212.12 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results 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. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

About Alibaba Group

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.