Summa Corp. Takes $3.80 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Summa Corp. bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 49,052 shares of the specialty retailer's stock, valued at approximately $3,802,000. Alibaba Group makes up about 2.7% of Summa Corp.'s investment portfolio, making the stock its 9th largest holding.

Several other large investors have also recently bought and sold shares of the company. Sanders Capital LLC raised its position in Alibaba Group by 322.7% during the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer's stock worth $1,303,636,000 after purchasing an additional 11,473,618 shares during the last quarter. Morgan Stanley lifted its stake in shares of Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock worth $1,007,058,000 after acquiring an additional 1,406,491 shares during the period. Assenagon Asset Management S.A. increased its position in Alibaba Group by 461.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer's stock valued at $365,686,000 after purchasing an additional 3,464,723 shares during the period. American Century Companies Inc. raised its holdings in Alibaba Group by 65.6% during the 3rd quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer's stock worth $304,318,000 after purchasing an additional 1,389,233 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Alibaba Group by 0.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,480,200 shares of the specialty retailer's stock valued at $215,133,000 after purchasing an additional 18,900 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Up 0.7 %

Shares of NYSE:BABA traded up $0.57 during trading on Friday, reaching $80.03. 10,782,822 shares of the stock traded hands, compared to its average volume of 17,665,605. The stock has a market cap of $203.08 billion, a P/E ratio of 14.76 and a beta of 0.44. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a 50-day moving average of $73.79 and a two-hundred day moving average of $75.16.

Alibaba Group (NYSE:BABA - Get Free Report) last posted 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). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The business had revenue of $260.35 billion during the quarter, compared to analysts' expectations of $260.26 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial cut their price target on Alibaba Group from $114.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday. Susquehanna cut their price target on Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. decreased their price objective on Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 9th. Barclays cut their target price on Alibaba Group from $138.00 to $109.00 and set an "overweight" rating on the stock in a report on Friday, January 12th. Finally, StockNews.com upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.49.

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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