Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 287.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,734 shares of the specialty retailer’s stock after purchasing an additional 51,713 shares during the quarter. Townsquare Capital LLC’s holdings in Alibaba Group were worth $7,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group in the third quarter valued at approximately $12,656,000. SRN Advisors LLC increased its holdings in shares of Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Alibaba Group by 7,734.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Mizuho raised their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Truist Financial cut their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Sanford C. Bernstein raised their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Trading Up 1.7 %

NYSE:BABA opened at $86.60 on Thursday. The firm has a market cap of $207.21 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The stock has a fifty day moving average price of $98.51 and a 200 day moving average price of $86.01. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released 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 firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

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.