Alibaba Group Holding Ltd (BABA) Position Lessened by Terra Nova Asset Management LLC

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Terra Nova Asset Management LLC reduced its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 18.2% in the third quarter, Holdings Channel reports. The fund owned 12,527 shares of the specialty retailer’s stock after selling 2,786 shares during the quarter. Alibaba Group comprises about 3.1% of Terra Nova Asset Management LLC’s portfolio, making the stock its 5th largest holding. Terra Nova Asset Management LLC’s holdings in Alibaba Group were worth $2,064,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. increased its holdings in Alibaba Group by 3.4% during the 2nd quarter. BlackRock Inc. now owns 63,108,387 shares of the specialty retailer’s stock worth $11,708,501,000 after purchasing an additional 2,077,793 shares during the period. Schroder Investment Management Group increased its holdings in shares of Alibaba Group by 1.5% in the 2nd quarter. Schroder Investment Management Group now owns 22,559,519 shares of the specialty retailer’s stock valued at $4,249,763,000 after acquiring an additional 328,861 shares during the period. Morgan Stanley increased its holdings in shares of Alibaba Group by 8.4% in the 2nd quarter. Morgan Stanley now owns 15,970,499 shares of the specialty retailer’s stock valued at $2,963,007,000 after acquiring an additional 1,235,562 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Alibaba Group by 8.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 15,778,979 shares of the specialty retailer’s stock valued at $2,927,474,000 after acquiring an additional 1,182,927 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP increased its holdings in shares of Alibaba Group by 0.6% in the 2nd quarter. Boussard & Gavaudan Investment Management LLP now owns 12,970,558 shares of the specialty retailer’s stock valued at $2,413,173,000 after acquiring an additional 80,000 shares during the period. 38.77% of the stock is owned by hedge funds and other institutional investors.

Shares of BABA stock opened at $133.38 on Tuesday. Alibaba Group Holding Ltd has a 1-year low of $131.36 and a 1-year high of $211.70. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.26. The firm has a market cap of $365.91 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 1.11 and a beta of 2.41.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 23rd. The specialty retailer reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.08). Alibaba Group had a return on equity of 14.18% and a net margin of 20.57%. The business had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.25 billion. On average, equities research analysts forecast that Alibaba Group Holding Ltd will post 3.72 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on BABA shares. Argus cut their price target on Alibaba Group from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, August 24th. UBS Group set a $245.00 price target on Alibaba Group and gave the company a “buy” rating in a report on Friday, August 24th. Nomura cut their price target on Alibaba Group from $231.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $256.00 price target on shares of Alibaba Group in a report on Thursday, August 23rd. Finally, MED cut their price target on Alibaba Group to $196.00 and set a “buy” rating on the stock in a report on Thursday, August 23rd. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $221.76.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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