Townsquare Capital LLC Increases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Townsquare Capital LLC grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 287.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,734 shares of the specialty retailer’s stock after buying an additional 51,713 shares during the period. Townsquare Capital LLC’s holdings in Alibaba Group were worth $7,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Primecap Management Co. CA lifted its holdings 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 buying an additional 1,074,175 shares during the last quarter. Sanders Capital LLC increased its position in shares of Alibaba Group by 0.3% during the third quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock worth $1,959,021,000 after purchasing an additional 60,667 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. FMR LLC increased its position in shares of Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares in the last quarter. Finally, 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. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Sanford C. Bernstein lifted their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial cut their target price 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. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Susquehanna dropped 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

Shares of BABA opened at $86.60 on Thursday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The stock’s 50 day moving average is $98.51 and its two-hundred day moving average is $86.01. The firm has a market capitalization of $207.21 billion, a PE ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current 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.