Carrhae Capital LLP Sells 276,192 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Carrhae Capital LLP lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 27.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 724,856 shares of the specialty retailer’s stock after selling 276,192 shares during the period. Alibaba Group accounts for about 8.8% of Carrhae Capital LLP’s holdings, making the stock its 2nd biggest position. Carrhae Capital LLP’s holdings in Alibaba Group were worth $76,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its position in Alibaba Group by 5.2% in the 2nd 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 during the period. ARGA Investment Management LP increased its position in Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after purchasing an additional 1,009,397 shares during the period. Discerene Group LP increased its position in Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after purchasing an additional 529,237 shares during the period. AMF Tjanstepension AB increased its position in Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after purchasing an additional 178,999 shares during the period. Finally, Eminence Capital LP increased its position in Alibaba Group by 9.0% during the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after purchasing an additional 150,488 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $102.43 on Monday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50 day moving average price is $92.30 and its 200 day moving average price is $82.31. The firm has a market cap of $259.92 billion, a P/E ratio of 23.88, a PEG ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the prior year, the company earned $2.47 EPS. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent analyst reports. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price 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 reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.63.

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.