Fisher Asset Management LLC Decreases Position in Alibaba Group Holding Limited (NYSE:BABA)

Fisher Asset Management LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,015,071 shares of the specialty retailer’s stock after selling 33,887 shares during the period. Fisher Asset Management LLC’s holdings in Alibaba Group were worth $532,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. Primecap Management Co. CA raised its stake in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares in 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 worth $650,043,000 after purchasing an additional 5,715,155 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 worth $296,062,000 after purchasing an additional 178,999 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of Alibaba Group by 9.0% in the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after purchasing an additional 150,488 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BABA. Truist Financial lowered their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $83.13 on Monday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The stock has a market cap of $199.05 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The business’s fifty day moving average price is $98.42 and its two-hundred day moving average price is $85.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. On average, analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

About Alibaba Group

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.