Yong Rong HK Asset Management Ltd Increases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Yong Rong HK Asset Management Ltd boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 50.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,000 shares of the specialty retailer’s stock after buying an additional 10,000 shares during the period. Alibaba Group accounts for 1.1% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 13th largest holding. Yong Rong HK Asset Management Ltd’s holdings in Alibaba Group were worth $2,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after buying an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. grew its holdings in Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after acquiring an additional 3,448,152 shares in the last quarter. FMR LLC grew its holdings in Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $115,995,000. Finally, Bank of Montreal Can acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at $63,929,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 5.7 %

NYSE BABA opened at $143.67 on Friday. The firm’s fifty day moving average is $95.43 and its two-hundred day moving average is $92.99. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $145.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $341.36 billion, a PE ratio of 20.76, a P/E/G ratio of 0.57 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.90%. The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BABA. Benchmark boosted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup raised their target price on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Robert W. Baird upped their price target on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.93.

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.