AI Squared Management Ltd bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 143,600 shares of the specialty retailer's stock, valued at approximately $11,130,000. Alibaba Group accounts for approximately 14.2% of AI Squared Management Ltd's holdings, making the stock its 3rd biggest position.
Several other institutional investors have also recently bought and sold shares of BABA. Morgan Stanley lifted its position in Alibaba Group by 13.8% during the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock valued at $1,007,058,000 after purchasing an additional 1,406,491 shares during the period. Sanders Capital LLC lifted its stake in shares of Alibaba Group by 322.7% in the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer's stock valued at $1,303,636,000 after purchasing an additional 11,473,618 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Alibaba Group by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer's stock worth $76,951,000 after purchasing an additional 21,228 shares during the period. Cerity Partners LLC grew its stake in shares of Alibaba Group by 299.9% during the fourth quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer's stock worth $6,428,000 after purchasing an additional 62,163 shares during the period. Finally, Certuity LLC increased its holdings in Alibaba Group by 122.2% in the third quarter. Certuity LLC now owns 113,704 shares of the specialty retailer's stock valued at $9,863,000 after purchasing an additional 62,543 shares during the last quarter. Institutional investors own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on BABA. StockNews.com upgraded Alibaba Group from a "hold" rating to a "buy" rating in a report on Tuesday, February 27th. Benchmark reissued a "buy" rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Wednesday, April 10th. Barclays cut their price objective on shares of Alibaba Group from $138.00 to $109.00 and set an "overweight" rating on the stock in a research report on Friday, January 12th. Susquehanna dropped their price target on Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 8th. Finally, Mizuho restated a "buy" rating and set a $95.00 target price on shares of Alibaba Group in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $112.49.
Check Out Our Latest Analysis on BABA
Alibaba Group Stock Up 1.3 %
Shares of BABA stock traded up $1.01 during trading hours on Thursday, hitting $79.47. 9,593,540 shares of the company's stock traded hands, compared to its average volume of 17,741,791. The stock's fifty day simple moving average is $73.68 and its two-hundred day simple moving average is $75.13. The stock has a market cap of $201.66 billion, a price-to-earnings ratio of 14.66 and a beta of 0.44. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.
Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). The company had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. Alibaba Group's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, analysts expect that Alibaba Group Holding Limited will post 7.54 EPS for the current year.
About Alibaba Group
(
Free Report)
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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