Alibaba Group Holding Limited $BABA Shares Purchased by AI Squared Management Ltd

Key Points

• AI Squared Management Ltd increased its stake in Alibaba by 44.4% in Q2 to 52,400 shares, making Alibaba its largest position at about 3.7% of the fund and worth roughly $5.94 million.
• Several large institutions also added heavily to Alibaba—most notably Kingstone Capital, which bought ~49 million shares (~$5.56 billion), while Primecap, Goldman Sachs, Price T. Rowe and UBS materially boosted their positions; institutional ownership stands at 13.47%.
• Analysts have been upgrading Alibaba, leaving a consensus rating of “Moderate Buy” with a consensus price target of $190.18 after multiple firms raised price objectives.

AI Squared Management Ltd raised its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,400 shares of the specialty retailer's stock after purchasing an additional 16,100 shares during the quarter. Alibaba Group makes up about 3.7% of AI Squared Management Ltd's investment portfolio, making the stock its largest position. AI Squared Management Ltd's holdings in Alibaba Group were worth $5,943,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its position in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after buying an additional 49,010,087 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of Alibaba Group by 0.7% in the second quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer's stock worth $2,354,877,000 after acquiring an additional 140,579 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 0.4%

NYSE:BABA opened at $159.04 on Thursday. The firm has a market capitalization of $379.48 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The business's 50-day moving average price is $168.80 and its two-hundred day moving average price is $137.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

BABA has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Barclays lifted their target price on Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Sanford C. Bernstein upped their price target on Alibaba Group from $167.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Nomura boosted their price objective on Alibaba Group from $170.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus target price of $190.18.

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.

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