Marshall Wace LLP Buys 1,130,643 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Marshall Wace LLP boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 384.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,424,944 shares of the specialty retailer’s stock after acquiring an additional 1,130,643 shares during the quarter. Marshall Wace LLP’s holdings in Alibaba Group were worth $102,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. H&H International Investment LLC increased its holdings in Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after purchasing an additional 1,918,730 shares during the period. Ruffer LLP increased its stake in shares of Alibaba Group by 139.2% during the fourth quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock valued at $243,430,000 after buying an additional 1,828,019 shares during the period. AMF Tjanstepension AB raised its holdings in shares of Alibaba Group by 79.5% during 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. Renaissance Technologies LLC lifted its stake in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after acquiring an additional 1,121,500 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after acquiring an additional 1,074,175 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 7.9 %

NYSE:BABA opened at $97.22 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $97.50. The stock has a market cap of $246.70 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 0.43 and a beta of 0.33. The company’s 50 day moving average price is $81.40 and its 200-day moving average price is $77.95. 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 posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the company earned $2.47 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Bank of America raised their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Robert W. Baird upped their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Sanford C. Bernstein increased their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Finally, Truist Financial lowered their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.61.

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.