Channing Global Advisors LLC Lowers Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Channing Global Advisors LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,278 shares of the specialty retailer’s stock after selling 963 shares during the quarter. Alibaba Group accounts for about 1.4% of Channing Global Advisors LLC’s holdings, making the stock its 22nd biggest holding. Channing Global Advisors LLC’s holdings in Alibaba Group were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BABA. Assenagon Asset Management S.A. lifted its position in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after acquiring an additional 3,740,150 shares in the last quarter. FMR LLC lifted its holdings in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Alibaba Group by 9,205.2% in the 3rd 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 purchasing an additional 1,679,117 shares in the last quarter. Finally, AMF Tjanstepension AB grew its holdings in shares of Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of BABA opened at $86.59 on Friday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company has a 50-day simple moving average of $98.47 and a two-hundred day simple moving average of $86.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $207.18 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for 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%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BABA. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.07.

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.