Tandem Capital Management Corp ADV Grows Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Tandem Capital Management Corp ADV grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 38.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,268 shares of the specialty retailer’s stock after purchasing an additional 7,051 shares during the period. Alibaba Group makes up approximately 1.4% of Tandem Capital Management Corp ADV’s holdings, making the stock its 23rd largest position. Tandem Capital Management Corp ADV’s holdings in Alibaba Group were worth $2,681,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Primecap Management Co. CA lifted its holdings in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares in the last quarter. Discerene Group LP increased its position in shares of Alibaba Group by 21.2% during the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after acquiring an additional 529,237 shares in the last quarter. AMF Tjanstepension AB increased its position in shares of Alibaba Group by 6.9% during the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after acquiring an additional 178,999 shares in the last quarter. Finally, Eminence Capital LP increased its position in shares of Alibaba Group by 9.0% during the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after acquiring an additional 150,488 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 1.1 %

Shares of BABA stock opened at $98.69 on Thursday. The stock has a market cap of $250.43 billion, a P/E ratio of 23.00, a PEG ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $95.08 and its two-hundred day simple moving average is $83.70.

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

Analyst Ratings Changes

A number of equities research analysts have commented on BABA shares. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Loop Capital restated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.