Coronation Fund Managers Ltd. Decreases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Coronation Fund Managers Ltd. lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,246 shares of the specialty retailer’s stock after selling 16,782 shares during the period. Coronation Fund Managers Ltd.’s holdings in Alibaba Group were worth $6,930,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. H&H International Investment LLC grew its stake in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after purchasing an additional 1,918,730 shares during the last quarter. AMF Tjanstepension AB grew its position 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 buying an additional 1,156,479 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Alibaba Group by 384.2% during the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after buying an additional 1,130,643 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after acquiring an additional 1,121,500 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 6.2 %

Shares of Alibaba Group stock opened at $112.73 on Wednesday. The company has a 50-day simple moving average of $84.31 and a two-hundred day simple moving average of $79.02. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $112.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $286.05 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 EPS. On average, analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Bank of America increased their price target 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. Susquehanna cut their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $107.61.

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.