EULAV Asset Management Trims Holdings in Alibaba Group Holding Limited (NYSE:BABA)

EULAV Asset Management decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 62.5% during the third quarter, Holdings Channel.com reports. The fund owned 30,000 shares of the specialty retailer’s stock after selling 50,000 shares during the quarter. EULAV Asset Management’s holdings in Alibaba Group were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Alibaba Group by 1,392.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the period. International Assets Investment Management LLC raised its holdings in Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. AMF Tjanstepension AB lifted its position in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares in the last quarter. Marshall Wace LLP raised its stake in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

Alibaba Group stock opened at $87.07 on Wednesday. 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 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $98.41 and a 200-day moving average price of $85.81. The firm has a market capitalization of $208.48 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

About Alibaba Group

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.