Jackson Square Capital LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Jackson Square Capital LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,702 shares of the specialty retailer's stock, valued at approximately $1,283,000.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $585,479,000. Renaissance Technologies LLC lifted its position in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after buying an additional 2,024,640 shares in the last quarter. Appaloosa LP lifted its position in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after buying an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC increased its stake in Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after acquiring an additional 1,030,999 shares during the last quarter. Finally, Polunin Capital Partners Ltd increased its stake in Alibaba Group by 218.1% during the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock worth $175,221,000 after acquiring an additional 908,544 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird cut their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group presently has an average rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Stock Down 3.4%

NYSE BABA traded down $3.91 during trading on Friday, reaching $112.71. 13,309,167 shares of the company's stock were exchanged, compared to its average volume of 19,991,610. The stock has a market cap of $268.93 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a 50 day moving average price of $118.35 and a two-hundred day moving average price of $110.93. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is 13.83%.

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.