Elephas Investment Management Ltd acquired a new stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 451,766 shares of the specialty retailer’s stock, valued at approximately $74,433,000. Alibaba Group comprises about 16.2% of Elephas Investment Management Ltd’s portfolio, making the stock its 3rd biggest holding.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. InterOcean Capital LLC acquired a new stake in shares of Alibaba Group during the second quarter worth $371,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Alibaba Group by 10,334.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 110,601 shares of the specialty retailer’s stock worth $520,000 after purchasing an additional 109,541 shares during the period. Palo Capital Inc. acquired a new stake in shares of Alibaba Group during the third quarter worth $171,000. Bouchey Financial Group Ltd acquired a new stake in shares of Alibaba Group during the third quarter worth $254,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of Alibaba Group by 8.1% during the second quarter. OppenheimerFunds Inc. now owns 15,778,979 shares of the specialty retailer’s stock worth $2,927,474,000 after purchasing an additional 1,182,927 shares during the period. Hedge funds and other institutional investors own 38.76% of the company’s stock.
A number of analysts have weighed in on the stock. Morgan Stanley set a $196.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a report on Monday, November 5th. Barclays set a $195.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a report on Sunday, November 4th. JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 5th. Benchmark dropped their price objective on shares of Alibaba Group from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Finally, UBS Group dropped their price objective on shares of Alibaba Group from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $216.02.
Alibaba Group stock opened at $144.85 on Friday. The stock has a market cap of $390.58 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 1.41 and a beta of 2.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.44 and a current ratio of 1.42. Alibaba Group Holding Ltd has a 52 week low of $130.06 and a 52 week high of $211.70.
Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 2nd. The specialty retailer reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $12.51 billion. Alibaba Group had a net margin of 19.33% and a return on equity of 12.99%. Alibaba Group’s quarterly revenue was up 49.6% on a year-over-year basis. During the same quarter last year, the company earned $1.29 EPS. As a group, research analysts forecast that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current year.
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Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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