Point72 Asia Singapore Pte. Ltd. Takes $38,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 531 shares of the specialty retailer’s stock, valued at approximately $38,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its holdings in shares of Alibaba Group by 768.7% in the fourth quarter. Bank of Nova Scotia now owns 36,746 shares of the specialty retailer’s stock valued at $2,848,000 after purchasing an additional 32,516 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Alibaba Group by 44.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 16,020 shares of the specialty retailer’s stock worth $1,242,000 after buying an additional 4,902 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of Alibaba Group during the 4th quarter valued at approximately $351,000. Belpointe Asset Management LLC acquired a new position in Alibaba Group in the fourth quarter valued at approximately $294,000. Finally, CIBC Private Wealth Group LLC grew its position in Alibaba Group by 101.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 912,364 shares of the specialty retailer’s stock worth $70,717,000 after acquiring an additional 460,174 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 1.1 %

Shares of NYSE BABA opened at $106.14 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $269.33 billion, a PE ratio of 24.74, a P/E/G ratio of 0.46 and a beta of 0.33. The firm has a fifty day moving average of $83.57 and a 200-day moving average of $78.74. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $112.22.

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 analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 EPS. On average, analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analyst Ratings Changes

BABA has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Profile

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.