Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 100.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the specialty retailer’s stock after purchasing an additional 100,000 shares during the period. Southpoint Capital Advisors LP’s holdings in Alibaba Group were worth $45,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BABA. Norges Bank acquired a new position in Alibaba Group during the fourth quarter valued at $5,713,083,000. Primecap Management Co. CA raised its position in shares of Alibaba Group by 20.8% in the first quarter. Primecap Management Co. CA now owns 15,116,716 shares of the specialty retailer’s stock worth $3,427,413,000 after acquiring an additional 2,607,030 shares during the period. FIL Ltd raised its position in shares of Alibaba Group by 19.0% in the first quarter. FIL Ltd now owns 14,806,014 shares of the specialty retailer’s stock worth $3,356,967,000 after acquiring an additional 2,368,249 shares during the period. Baillie Gifford & Co. raised its position in shares of Alibaba Group by 6.5% in the first quarter. Baillie Gifford & Co. now owns 26,692,992 shares of the specialty retailer’s stock worth $6,052,102,000 after acquiring an additional 1,623,584 shares during the period. Finally, Generation Investment Management LLP raised its position in shares of Alibaba Group by 94.0% in the first quarter. Generation Investment Management LLP now owns 2,997,508 shares of the specialty retailer’s stock worth $679,625,000 after acquiring an additional 1,452,645 shares during the period. Institutional investors own 32.88% of the company’s stock.

NYSE:BABA traded up $2.72 on Thursday, reaching $213.80. The company’s stock had a trading volume of 453,550 shares, compared to its average volume of 15,326,872. Alibaba Group Holding Limited has a 12-month low of $198.26 and a 12-month high of $319.32. The company has a current ratio of 1.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $578.47 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80. The company has a 50 day moving average of $213.87.

Alibaba Group (NYSE:BABA) last posted its earnings results on Wednesday, May 12th. The specialty retailer reported $10.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $8.85. Alibaba Group had a return on equity of 12.95% and a net margin of 20.83%. The company had revenue of $187.40 billion for the quarter, compared to the consensus estimate of $180.67 billion. During the same quarter in the previous year, the business earned $9.20 earnings per share. The company’s revenue for the quarter was up 63.9% on a year-over-year basis. Research analysts anticipate that Alibaba Group Holding Limited will post 7.39 earnings per share for the current fiscal year.

A number of brokerages have weighed in on BABA. Truist decreased their price objective on shares of Alibaba Group from $315.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 14th. Needham & Company LLC initiated coverage on shares of Alibaba Group in a research report on Wednesday, July 7th. They issued a “buy” rating and a $330.00 price objective for the company. Citigroup cut their target price on shares of Alibaba Group from $338.00 to $306.00 and set a “buy” rating for the company in a research note on Friday, May 14th. Benchmark reissued a “buy” rating and set a $282.00 target price (down previously from $285.00) on shares of Alibaba Group in a research note on Tuesday, July 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Alibaba Group in a research note on Tuesday, May 11th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $311.90.

Alibaba Group Profile

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media and Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

See Also: Overbought

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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