Canada Pension Plan Investment Board Purchases 111,300 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Canada Pension Plan Investment Board increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 226.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,400 shares of the specialty retailer’s stock after buying an additional 111,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Alibaba Group were worth $11,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Alliance LLC boosted its stake in shares of Alibaba Group by 154.1% in the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co grew its stake 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 valued at $12,275,000 after buying an additional 139,134 shares during the last quarter. SRN Advisors LLC increased its holdings in shares of Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 9,663 shares during the period. ORG Partners LLC lifted its stake in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after acquiring an additional 11,064 shares during the last quarter. Finally, Leo Wealth LLC purchased a new stake in Alibaba Group during the 4th quarter valued at about $1,734,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BABA shares. Susquehanna decreased their price target 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. Truist Financial dropped 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. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Loop Capital reiterated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Price Performance

Shares of BABA opened at $90.08 on Tuesday. The firm’s 50-day simple moving average is $81.03 and its two-hundred day simple moving average is $77.78. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $91.15. The stock has a market cap of $228.58 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data 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 company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the company earned $2.47 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Alibaba Group 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.