Wafra Inc. increased its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 179.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,198 shares of the specialty retailer’s stock after acquiring an additional 21,334 shares during the quarter. Wafra Inc.’s holdings in Alibaba Group were worth $6,057,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in Alibaba Group by 13.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,900,108 shares of the specialty retailer’s stock valued at $529,123,000 after purchasing an additional 342,937 shares during the period. Morningstar Investment Services LLC bought a new stake in Alibaba Group in the 1st quarter valued at about $7,207,000. Hancock Whitney Corp boosted its holdings in Alibaba Group by 59.9% in the 1st quarter. Hancock Whitney Corp now owns 4,029 shares of the specialty retailer’s stock valued at $734,000 after purchasing an additional 1,509 shares during the period. Soma Equity Partners LP boosted its holdings in Alibaba Group by 6.7% in the 1st quarter. Soma Equity Partners LP now owns 480,000 shares of the specialty retailer’s stock valued at $87,576,000 after purchasing an additional 30,000 shares during the period. Finally, Hoylecohen LLC boosted its holdings in Alibaba Group by 3.1% in the 1st quarter. Hoylecohen LLC now owns 14,751 shares of the specialty retailer’s stock valued at $2,691,000 after purchasing an additional 440 shares during the period. 40.68% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $220.00 price objective (up previously from $205.00) on shares of Alibaba Group in a report on Thursday, May 16th. Loop Capital assumed coverage on shares of Alibaba Group in a report on Monday, June 3rd. They issued a “buy” rating and a $250.00 price objective for the company. ValuEngine raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus reissued a “buy” rating and issued a $220.00 price objective on shares of Alibaba Group in a report on Friday, May 24th. Finally, Barclays boosted their price objective on shares of Alibaba Group from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alibaba Group currently has a consensus rating of “Buy” and an average price target of $217.22.
Shares of Alibaba Group stock opened at $158.10 on Friday. Alibaba Group Holding Ltd has a 1-year low of $129.77 and a 1-year high of $210.08. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.18. The company has a market cap of $410.63 billion, a PE ratio of 44.04, a PEG ratio of 1.17 and a beta of 2.32.
Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $7.82. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. The company had revenue of $93.50 billion during the quarter, compared to the consensus estimate of $91.68 billion. During the same quarter in the prior year, the firm posted $5.73 EPS. The firm’s quarterly revenue was up 51.0% on a year-over-year basis. On average, research analysts forecast that Alibaba Group Holding Ltd will post 5.1 earnings per share for the current year.
Alibaba Group 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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