Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1,972.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,457 shares of the specialty retailer’s stock after purchasing an additional 89,900 shares during the quarter. Alibaba Group makes up about 9.9% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 2nd largest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Alibaba Group were worth $10,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BluePointe Capital Management LLC purchased a new stake in Alibaba Group in the 3rd quarter valued at $210,000. Dearborn Partners LLC acquired a new position in Alibaba Group in the third quarter valued at $226,000. Intellectus Partners LLC raised its holdings in shares of Alibaba Group by 7.8% in the third quarter. Intellectus Partners LLC now owns 27,704 shares of the specialty retailer’s stock valued at $2,940,000 after buying an additional 1,997 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Alibaba Group by 49.8% during the third quarter. OneDigital Investment Advisors LLC now owns 11,689 shares of the specialty retailer’s stock worth $1,240,000 after buying an additional 3,885 shares during the period. Finally, Endowment Wealth Management Inc. acquired a new stake in shares of Alibaba Group during the third quarter worth about $309,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $88.57 on Friday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The firm has a market capitalization of $212.07 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The business’s 50 day simple moving average is $98.18 and its 200-day simple moving average is $85.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The company 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%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 earnings per share. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.53.

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.