79,700 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 79,700 shares of the specialty retailer’s stock, valued at approximately $5,738,000.

Several other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC boosted its stake in shares of Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after purchasing an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after buying an additional 139,134 shares during the period. SRN Advisors LLC grew its stake in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 9,663 shares in the last quarter. ORG Partners LLC increased its position in shares of Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares during the period. Finally, Leo Wealth LLC bought a new stake in shares of Alibaba Group during the fourth quarter valued at approximately $1,734,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $88.29 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $224.04 billion, a PE ratio of 20.58, a PEG ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $90.46. The business’s fifty day simple moving average is $80.79 and its 200-day simple moving average is $77.66.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS 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 company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period last year, the business posted $2.47 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BABA. Robert W. Baird raised their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Loop Capital restated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

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.