Alibaba Group Holding Ltd (NYSE:BABA) is Elephas Investment Management Ltd’s Largest Position

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Elephas Investment Management Ltd lifted its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 594.1% in the 2nd quarter, Holdings Channel reports. The firm owned 498,694 shares of the specialty retailer’s stock after acquiring an additional 426,844 shares during the period. Alibaba Group accounts for 51.1% of Elephas Investment Management Ltd’s portfolio, making the stock its biggest holding. Elephas Investment Management Ltd’s holdings in Alibaba Group were worth $84,504,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farmers National Bank purchased a new stake in Alibaba Group in the first quarter worth about $25,000. Manchester Capital Management LLC increased its position in Alibaba Group by 171.4% in the first quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Lee Financial Co increased its position in Alibaba Group by 194.6% in the second quarter. Lee Financial Co now owns 165 shares of the specialty retailer’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Alibaba Group in the first quarter worth about $34,000. Finally, Farmers & Merchants Investments Inc. increased its position in Alibaba Group by 100.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 200 shares of the specialty retailer’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

A number of analysts have commented on the company. Barclays upped their price target on Alibaba Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research raised Alibaba Group from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. SunTrust Banks reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 15th. Finally, Loop Capital started coverage on Alibaba Group in a research note on Monday, June 3rd. They issued a “buy” rating and a $250.00 price objective for the company. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Alibaba Group has an average rating of “Buy” and an average price target of $218.18.

Alibaba Group stock traded up $3.77 during midday trading on Thursday, reaching $165.83. 28,215,664 shares of the stock traded hands, compared to its average volume of 18,413,942. The business’s fifty day moving average price is $169.45. Alibaba Group Holding Ltd has a 12 month low of $129.77 and a 12 month high of $195.72. The company has a market cap of $405.32 billion, a PE ratio of 46.19, a P/E/G ratio of 1.43 and a beta of 2.30. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $7.82. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The company had revenue of $93.50 billion during the quarter, compared to analyst estimates of $91.68 billion. During the same period in the prior year, the company earned $5.73 earnings per share. The firm’s revenue was up 51.0% on a year-over-year basis. As a group, research analysts predict that Alibaba Group Holding Ltd will post 5.04 EPS for the current fiscal year.

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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