Atlanta Consulting Group Advisors LLC Takes $221,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Atlanta Consulting Group Advisors LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,086 shares of the specialty retailer’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. Assenagon Asset Management S.A. increased its position in 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 worth $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC increased its position in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after purchasing an additional 1,679,117 shares in the last quarter. AMF Tjanstepension AB increased its position in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP increased its position 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 worth $102,596,000 after purchasing an additional 1,130,643 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BABA shares. Barclays upped their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein boosted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Down 2.2 %

Shares of NYSE BABA opened at $88.59 on Monday. The firm has a market cap of $212.12 billion, a PE ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company’s fifty day simple moving average is $98.18 and its 200 day simple moving average is $85.70. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal 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.