Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 382.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,865 shares of the specialty retailer’s stock after buying an additional 16,540 shares during the period. Acadian Asset Management LLC’s holdings in Alibaba Group were worth $1,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC lifted its position in Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 142 shares during the period. Legacy Advisors LLC lifted its position in Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares during the period. North Star Investment Management Corp. lifted its position in Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 154 shares during the period. Evolution Wealth Advisors LLC lifted its position in Alibaba Group by 4.1% in the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after purchasing an additional 158 shares during the period. Finally, WNY Asset Management LLC increased its holdings in shares of Alibaba Group by 2.8% in the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after buying an additional 164 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BABA shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Bank of America upped their price target on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Trading Down 0.9 %

Shares of NYSE:BABA opened at $84.69 on Monday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46. The firm has a fifty day moving average price of $79.86 and a 200 day moving average price of $77.21. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $214.90 billion, a PE ratio of 19.74, a P/E/G ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

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.