Tandem Capital Management Corp ADV Acquires 7,051 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Tandem Capital Management Corp ADV lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 38.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,268 shares of the specialty retailer’s stock after purchasing an additional 7,051 shares during the period. Alibaba Group accounts for approximately 1.4% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 23rd biggest holding. Tandem Capital Management Corp ADV’s holdings in Alibaba Group were worth $2,681,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA lifted its stake in shares of 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 last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. Discerene Group LP lifted its stake 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 last quarter. AMF Tjanstepension AB lifted its stake in shares of 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 acquiring an additional 178,999 shares during the last quarter. Finally, Eminence Capital LP lifted its stake in shares of Alibaba Group by 9.0% in the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after acquiring an additional 150,488 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BABA shares. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Bank of America lifted their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.00.

Alibaba Group Stock Performance

Shares of BABA opened at $98.69 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company has a 50-day simple moving average of $95.08 and a two-hundred day simple moving average of $83.70. The firm has a market capitalization of $250.43 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

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

Alibaba Group Company 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.