EULAV Asset Management Sells 50,000 Shares of Alibaba Group Holding Limited (NYSE:BABA)

EULAV Asset Management decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 62.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the specialty retailer’s stock after selling 50,000 shares during the quarter. EULAV Asset Management’s holdings in Alibaba Group were worth $3,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in shares of 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after buying an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BABA. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Robert W. Baird increased their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Susquehanna decreased their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Barclays cut their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Macquarie raised 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Down 2.6 %

BABA stock opened at $87.07 on Wednesday. The business’s 50-day moving average is $98.41 and its two-hundred day moving average is $85.81. The company has a market cap of $208.48 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.39 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that Alibaba Group Holding Limited will post 8.51 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.