Point72 Hong Kong Ltd Sells 642,424 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Point72 Hong Kong Ltd reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 95.3% in the third quarter, Holdings Channel.com reports. The fund owned 31,476 shares of the specialty retailer’s stock after selling 642,424 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Alibaba Group were worth $3,340,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Primecap Management Co. CA boosted its holdings 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 purchasing an additional 1,074,175 shares during the period. Sanders Capital LLC boosted its stake in Alibaba Group by 0.3% during the third quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after buying an additional 60,667 shares during the period. Hhlr Advisors LTD. grew its position in Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in 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 worth $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BABA shares. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Monday, October 7th. Robert W. Baird increased their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho lifted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Price Performance

BABA opened at $87.37 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $98.45 and its 200 day simple moving average is $86.08. The firm has a market cap of $209.05 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.43 and a beta of 0.35. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current 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.