Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Choreo LLC

Choreo LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 48.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,789 shares of the specialty retailer’s stock after buying an additional 1,880 shares during the quarter. Choreo LLC’s holdings in Alibaba Group were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BABA. Norges Bank bought a new position in Alibaba Group during the fourth quarter worth $329,367,000. H&H International Investment LLC lifted its stake 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 worth $384,390,000 after purchasing an additional 1,918,730 shares during the last quarter. Ruffer LLP lifted its stake in Alibaba Group by 139.2% during the fourth quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after purchasing an additional 1,828,019 shares during the last quarter. AMF Tjanstepension AB lifted its stake in Alibaba Group by 79.5% during the second 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 last quarter. Finally, ARGA Investment Management LP lifted its stake in Alibaba Group by 39.2% during the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after purchasing an additional 1,009,397 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BABA shares. Truist Financial cut their target price 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. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Susquehanna cut their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Loop Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein raised their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Trading Down 1.3 %

Shares of BABA opened at $83.61 on Tuesday. The business’s 50-day moving average price is $80.07 and its 200 day moving average price is $77.28. The stock has a market capitalization of $212.16 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $90.46. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued 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 firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the business posted $2.47 EPS. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. Analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current 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.