Assetmark Inc. Increases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Assetmark Inc. grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 225.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397 shares of the specialty retailer’s stock after purchasing an additional 275 shares during the period. Assetmark Inc.’s holdings in Alibaba Group were worth $42,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BABA. CANADA LIFE ASSURANCE Co grew its position in shares of Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares in the last quarter. Generate Investment Management Ltd acquired a new position in Alibaba Group during the 3rd quarter worth approximately $12,656,000. SRN Advisors LLC increased its position in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after purchasing an additional 50,000 shares during the last quarter. Finally, United Advisor Group LLC acquired a new position in shares of Alibaba Group during the third quarter worth $631,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BABA. Bank of America lifted their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Barclays lifted their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, StockNews.com cut Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.53.

Alibaba Group Stock Up 0.9 %

BABA opened at $89.37 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The stock has a market capitalization of $213.99 billion, a P/E ratio of 18.13, a P/E/G ratio of 0.39 and a beta of 0.35. The business has a 50 day simple moving average of $98.34 and a 200-day simple moving average of $85.77.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

About Alibaba Group

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.