Seven Eight Capital LP Purchases New Position in Alibaba Group Holding Limited (NYSE:BABA)

Seven Eight Capital LP acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,511 shares of the specialty retailer’s stock, valued at approximately $1,045,000.

Several other large investors have also recently bought and sold shares of the company. Elkhorn Partners Limited Partnership raised its position in shares of Alibaba Group by 8.8% during the second quarter. Elkhorn Partners Limited Partnership now owns 3,700 shares of the specialty retailer’s stock worth $266,000 after purchasing an additional 300 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Alibaba Group by 8.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the specialty retailer’s stock worth $937,000 after purchasing an additional 964 shares in the last quarter. RPg Family Wealth Advisory LLC raised its holdings in Alibaba Group by 13.1% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 19,794 shares of the specialty retailer’s stock worth $1,457,000 after buying an additional 2,294 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new position in Alibaba Group in the second quarter valued at approximately $328,000. Finally, EPIQ Capital Group LLC boosted its holdings in shares of Alibaba Group by 0.3% in the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after buying an additional 157 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BABA shares. Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $88.31 on Friday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $90.46. The company has a market cap of $224.09 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The business’s 50 day moving average price is $80.79 and its two-hundred day moving average price is $77.59. 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 posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating 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 business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the business earned $2.47 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, 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.