Renaissance Technologies LLC Acquires 1,121,500 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Renaissance Technologies LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 523.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,335,600 shares of the specialty retailer’s stock after purchasing an additional 1,121,500 shares during the period. Renaissance Technologies LLC’s holdings in Alibaba Group were worth $96,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BABA. First Command Advisory Services Inc. bought a new stake in Alibaba Group in the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC raised its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Register Financial Advisors LLC bought a new stake in Alibaba Group in the 1st quarter valued at about $31,000. Asset Dedication LLC raised its stake in Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Alibaba Group in the 2nd quarter valued at about $40,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BABA shares. JPMorgan Chase & Co. upped their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Susquehanna decreased their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Sanford C. Bernstein upped their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Down 1.3 %

Shares of BABA opened at $83.61 on Tuesday. The firm has a market cap of $212.16 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.43 and a beta of 0.33. The stock has a 50 day simple moving average of $80.07 and a two-hundred day simple moving average of $77.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 earnings per share. On average, analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal 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.