Foundations Investment Advisors LLC Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Foundations Investment Advisors LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 11.4% during the third quarter, HoldingsChannel.com reports. The fund owned 128,352 shares of the specialty retailer’s stock after purchasing an additional 13,168 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Alibaba Group were worth $13,621,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. AMF Tjanstepension AB grew its holdings in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP grew its holdings in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Primecap Management Co. CA grew its holdings 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 valued at $1,574,711,000 after purchasing an additional 1,074,175 shares in the last quarter. Finally, ARGA Investment Management LP grew its holdings 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 acquiring an additional 1,009,397 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.63.

Alibaba Group Trading Down 1.5 %

Shares of NYSE:BABA opened at $100.89 on Tuesday. The company has a market cap of $256.01 billion, a PE ratio of 23.52, a P/E/G ratio of 0.55 and a beta of 0.35. The company’s 50-day moving average price is $92.70 and its 200 day moving average price is $82.51. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. 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 issued 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 for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

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.