20,400 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,400 shares of the specialty retailer’s stock, valued at approximately $1,469,000. Alibaba Group makes up approximately 0.3% of Columbus Hill Capital Management L.P.’s investment portfolio, making the stock its 29th largest position.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Alibaba Group during the 4th quarter worth about $1,651,000. Assetmark Inc. increased its holdings in Alibaba Group by 15.6% during the fourth quarter. Assetmark Inc. now owns 3,254 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 438 shares during the period. Franklin Resources Inc. increased its holdings in Alibaba Group by 30.3% during the fourth quarter. Franklin Resources Inc. now owns 532,668 shares of the specialty retailer’s stock valued at $41,287,000 after buying an additional 123,925 shares during the period. InterOcean Capital Group LLC lifted its holdings in Alibaba Group by 39.1% during the fourth quarter. InterOcean Capital Group LLC now owns 4,438 shares of the specialty retailer’s stock worth $344,000 after buying an additional 1,248 shares during the period. Finally, Tidemark LLC bought a new stake in Alibaba Group during the 4th quarter valued at $49,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the subject of several recent research reports. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Truist Financial decreased their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Sanford C. Bernstein increased their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Trading Down 0.2 %

Shares of NYSE:BABA opened at $88.31 on Friday. The business has a 50-day moving average price of $80.79 and a 200-day moving average price of $77.59. The stock has a market cap of $224.09 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $90.46. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

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