IvyRock Asset Management HK Ltd Has $19.82 Million Stake in Alibaba Group Holding Limited $BABA

IvyRock Asset Management HK Ltd decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,900 shares of the specialty retailer’s stock after selling 73,100 shares during the period. Alibaba Group accounts for 8.5% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its 4th largest position. IvyRock Asset Management HK Ltd’s holdings in Alibaba Group were worth $19,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in shares of Alibaba Group in the 3rd quarter valued at about $30,000. NBT Bank N A NY boosted its stake in Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Alibaba Group by 34.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 65 shares during the period. MMA Asset Management LLC bought a new stake in shares of Alibaba Group during the 3rd quarter valued at $51,000. Finally, JCIC Asset Management Inc. acquired a new position in shares of Alibaba Group in the 3rd quarter valued at $53,000. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Arete Research raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their target price on Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Morgan Stanley decreased their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Citigroup increased their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Barclays lifted their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Seventeen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Price Performance

Shares of BABA opened at $152.31 on Thursday. The stock has a 50 day simple moving average of $159.22 and a 200 day simple moving average of $157.18. Alibaba Group Holding Limited has a 52-week low of $95.73 and a 52-week high of $192.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $363.64 billion, a PE ratio of 21.04, a P/E/G ratio of 3.35 and a beta of 0.39.

Alibaba Group (NYSE:BABA) last announced its earnings results on Tuesday, November 25th. The specialty retailer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). The company had revenue of $34.80 billion for the quarter, compared to analyst estimates of $41.80 billion. Alibaba Group had a return on equity of 10.51% and a net margin of 12.38%.The business’s quarterly revenue was up 9% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. Sell-side analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.