Confluence Investment Management LLC Boosts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Confluence Investment Management LLC raised its position in Alibaba Group Holding Limited (NYSE:BABA) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,425 shares of the specialty retailer’s stock after purchasing an additional 412 shares during the quarter. Confluence Investment Management LLC’s holdings in Alibaba Group were worth $206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Primecap Management Co. CA raised its stake in shares of Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after acquiring an additional 1,074,175 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of Alibaba Group by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after buying an additional 60,667 shares during the period. Hhlr Advisors LTD. grew its position in shares of Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alibaba Group by 3,180.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Alibaba Group stock opened at $85.54 on Friday. The business has a 50 day simple moving average of $89.35 and a 200-day simple moving average of $86.95. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $204.02 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Bank of America increased their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

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.