AI Squared Management Ltd Acquires Shares of 143,600 Alibaba Group Holding Limited (NYSE:BABA)

AI Squared Management Ltd purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 143,600 shares of the specialty retailer’s stock, valued at approximately $11,130,000. Alibaba Group makes up approximately 14.2% of AI Squared Management Ltd’s holdings, making the stock its 3rd biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sanders Capital LLC increased its position in Alibaba Group by 322.7% in the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after acquiring an additional 11,473,618 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alibaba Group by 461.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock valued at $365,686,000 after buying an additional 3,464,723 shares during the period. Blue Pool Management Ltd. acquired a new stake in Alibaba Group during the fourth quarter valued at $151,726,000. Morgan Stanley increased its position in Alibaba Group by 13.8% in the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock worth $1,007,058,000 after purchasing an additional 1,406,491 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Alibaba Group by 65.6% during the 3rd quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer’s stock valued at $304,318,000 after buying an additional 1,389,233 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of BABA traded up $0.99 during trading hours on Thursday, hitting $79.45. 8,066,473 shares of the company were exchanged, compared to its average volume of 17,723,066. The company has a market cap of $201.60 billion, a price-to-earnings ratio of 14.65 and a beta of 0.44. The firm’s fifty day moving average is $73.60 and its 200 day moving average is $75.11. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BABA has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Alibaba Group from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday. Susquehanna lowered their price target on Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 8th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, April 10th. The Goldman Sachs Group cut their price target on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.49.

Alibaba Group Company 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.