Generate Investment Management Ltd Purchases New Position in Alibaba Group Holding Limited (NYSE:BABA)

Generate Investment Management Ltd acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 119,264 shares of the specialty retailer’s stock, valued at approximately $12,656,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA grew its stake in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. ARGA Investment Management LP grew its position in shares of Alibaba Group by 39.2% during the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after acquiring an additional 1,009,397 shares during the last quarter. Discerene Group LP increased its holdings in shares of Alibaba Group by 21.2% in the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after acquiring an additional 529,237 shares during the period. AMF Tjanstepension AB raised its position in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP boosted its stake 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.63.

Alibaba Group Trading Up 2.3 %

Shares of Alibaba Group stock opened at $102.41 on Friday. The company has a 50-day moving average of $92.30 and a two-hundred day moving average of $82.17. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market cap of $259.87 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $2.47 EPS. On average, research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

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.