Rings Capital Management LLC Invests $753,000 in Alibaba Group Holding Limited (NYSE:BABA)

Rings Capital Management LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,000 shares of the specialty retailer’s stock, valued at approximately $753,000. Alibaba Group makes up 0.4% of Rings Capital Management LLC’s portfolio, making the stock its 8th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the second quarter worth about $25,000. GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group in the 2nd quarter worth approximately $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the third quarter valued at approximately $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 1.7 %

Shares of Alibaba Group stock opened at $86.60 on Thursday. The stock has a market capitalization of $207.21 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $98.51 and a 200 day simple moving average of $86.01.

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

Analyst Ratings Changes

Several equities analysts recently commented on BABA shares. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Mizuho upped their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Truist Financial cut their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

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.