Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 4.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,019 shares of the specialty retailer’s stock after acquiring an additional 354 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alibaba Group were worth $851,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its stake in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after purchasing an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. Discerene Group LP boosted its holdings in shares of Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after purchasing an additional 529,237 shares during the last quarter. AMF Tjanstepension AB increased its holdings in shares of Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP lifted its position in Alibaba Group by 9.0% during the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after buying an additional 150,488 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA opened at $94.19 on Friday. The firm has a market cap of $225.58 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 0.43 and a beta of 0.35. 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 stock’s 50-day moving average price is $97.25 and its 200 day moving average price is $84.97. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. 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 company earned $2.47 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Barclays raised their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price 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. Benchmark restated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Finally, Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.13.

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.