Alibaba Group Holding Limited $BABA Stake Increased by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.9% in the second quarter, Holdings Channel reports. The firm owned 184,000 shares of the specialty retailer’s stock after acquiring an additional 3,400 shares during the quarter. Alibaba Group accounts for 9.6% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 4th biggest holding. IvyRock Asset Management HK Ltd’s holdings in Alibaba Group were worth $20,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Temasek Holdings Private Ltd increased its holdings in shares of Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after purchasing an additional 1,045,789 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after buying an additional 785,494 shares during the last quarter. Verde Servicos Internacionais S.A. increased its holdings in Alibaba Group by 6.9% in the 2nd quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock worth $7,686,000 after buying an additional 4,373 shares in the last quarter. Causeway Capital Management LLC increased its holdings in Alibaba Group by 42.6% in the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after buying an additional 404,842 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in Alibaba Group by 53.1% in the 1st quarter. Independent Advisor Alliance now owns 13,043 shares of the specialty retailer’s stock worth $1,725,000 after buying an additional 4,521 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.4%

Shares of BABA stock opened at $159.04 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $379.48 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The firm has a fifty day moving average price of $168.80 and a 200-day moving average price of $137.43.

Wall Street Analyst Weigh In

BABA has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. CLSA raised their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Mizuho set a $195.00 price target on Alibaba Group in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group lifted their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

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.