Rings Capital Management LLC Takes $753,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Rings Capital Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,000 shares of the specialty retailer’s stock, valued at approximately $753,000. Alibaba Group makes up approximately 0.4% of Rings Capital Management LLC’s investment portfolio, making the stock its 8th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Alibaba Group by 2.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock valued at $1,523,000 after acquiring an additional 390 shares during the last quarter. RPg Family Wealth Advisory LLC lifted its stake in Alibaba Group by 14.6% during the third quarter. RPg Family Wealth Advisory LLC now owns 22,684 shares of the specialty retailer’s stock valued at $2,407,000 after purchasing an additional 2,890 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Alibaba Group during the third quarter valued at approximately $518,000. Bridgewater Associates LP bought a new stake in Alibaba Group during the third quarter worth approximately $54,366,000. Finally, Soros Capital Management LLC acquired a new position in Alibaba Group in the third quarter worth approximately $12,098,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $86.60 on Thursday. The firm has a market cap of $207.21 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.42 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. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $98.51 and a 200 day simple moving average of $86.01.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective 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. Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays cut their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, October 7th. Finally, Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

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.