AI Squared Management Ltd Acquires 16,100 Shares of Alibaba Group Holding Limited $BABA

AI Squared Management Ltd raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 44.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,400 shares of the specialty retailer’s stock after acquiring an additional 16,100 shares during the period. Alibaba Group comprises about 3.7% of AI Squared Management Ltd’s investment portfolio, making the stock its largest holding. AI Squared Management Ltd’s holdings in Alibaba Group were worth $5,943,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BABA. Kingstone Capital Partners Texas LLC grew its position in shares of Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Primecap Management Co. CA lifted its stake in Alibaba Group by 0.7% in the second quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock valued at $2,354,877,000 after buying an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after acquiring an additional 2,584,480 shares in 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 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BABA. JPMorgan Chase & Co. lowered their target price on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Barclays increased their price objective on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Sanford C. Bernstein boosted their target price on Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Zacks Research downgraded Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, CLSA lifted their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Trading Down 0.4%

Shares of Alibaba Group stock opened at $159.04 on Thursday. The stock has a market cap of $379.48 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The business’s 50 day moving average is $168.80 and its 200-day moving average is $137.43.

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.