Marshall Wace LLP Acquires 1,130,643 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Marshall Wace LLP increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 384.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,424,944 shares of the specialty retailer’s stock after acquiring an additional 1,130,643 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of Alibaba Group worth $102,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the period. Register Financial Advisors LLC bought a new position in Alibaba Group during the first quarter valued at $31,000. Asset Dedication LLC raised its stake in shares of Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 400 shares during the period. Finally, EdgeRock Capital LLC purchased a new position in shares of Alibaba Group during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BABA shares. Bank of America lifted their price objective on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein boosted their price target 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. Truist Financial dropped their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Robert W. Baird increased their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

BABA stock opened at $97.22 on Wednesday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $97.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $246.70 billion, a PE ratio of 22.66, a P/E/G ratio of 0.43 and a beta of 0.33. The firm has a 50 day simple moving average of $81.40 and a two-hundred day simple moving average of $77.95.

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. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.47 EPS. On average, analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Alibaba Group Company 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.