AMF Tjanstepension AB Buys 216,571 Shares of Alibaba Group Holding Limited $BABA

Key Points

• AMF Tjanstepension AB increased its stake in Alibaba Group Holding Limited by 8.7%, now owning 2,691,686 shares valued at approximately $305.7 million, making it the fund's 16th largest holding.
• Institutional interest in Alibaba has surged, with major investors like Kingstone Capital growing their stake by over 1.3 million percent, resulting in a total ownership of nearly $5.56 billion.
• Recent analyst ratings for Alibaba have improved, with Zacks upgrading the stock to a hold and several firms issuing buy ratings, reflecting growing confidence in the company's outlook.

AMF Tjanstepension AB grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,691,686 shares of the specialty retailer's stock after buying an additional 216,571 shares during the quarter. Alibaba Group accounts for approximately 2.0% of AMF Tjanstepension AB's portfolio, making the stock its 16th largest holding. AMF Tjanstepension AB owned about 0.11% of Alibaba Group worth $305,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC grew its stake in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alibaba Group by 22.6% in 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Alibaba Group by 43.0% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alibaba Group by 85.6% in 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 worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in shares of Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock worth $728,633,000 after purchasing an additional 1,045,789 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BABA shares. Zacks Research raised Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Erste Group Bank raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. UBS Group reissued a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Robert W. Baird raised their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Finally, CLSA raised their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $181.88.

Alibaba Group Price Performance

BABA stock opened at $187.94 on Friday. The firm has a 50 day moving average price of $140.65 and a 200-day moving average price of $126.16. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The firm has a market capitalization of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.24 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Alibaba Group Company 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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