Thoroughbred Financial Services LLC Boosts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Thoroughbred Financial Services LLC boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,696 shares of the specialty retailer’s stock after purchasing an additional 744 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Alibaba Group were worth $266,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alibaba Group during the 4th quarter valued at about $329,367,000. H&H International Investment LLC raised its position in Alibaba Group by 63.1% during the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after purchasing an additional 1,918,730 shares during the period. Ruffer LLP lifted its stake in shares of Alibaba Group by 139.2% in the 4th quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock valued at $243,430,000 after purchasing an additional 1,828,019 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares during the period. Finally, ARGA Investment Management LP increased its position in shares of Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after purchasing an additional 1,009,397 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA stock opened at $84.70 on Wednesday. The firm has a 50-day simple moving average of $80.25 and a two-hundred day simple moving average of $77.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $90.46. The firm has a market cap of $214.93 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.43 and a beta of 0.33.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BABA shares. Bank of America lifted their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Robert W. Baird boosted their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group 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.