GQG Partners LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, Holdings Channel reports. The firm purchased 3,321,779 shares of the specialty retailer’s stock, valued at approximately $753,169,000. Alibaba Group makes up about 2.2% of GQG Partners LLC’s portfolio, making the stock its 20th biggest position.
A number of other large investors have also recently bought and sold shares of BABA. Camden National Bank raised its holdings in Alibaba Group by 56.8% in the 4th quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock worth $6,339,000 after purchasing an additional 9,866 shares in the last quarter. Flossbach Von Storch AG raised its holdings in Alibaba Group by 91.0% in the 2nd quarter. Flossbach Von Storch AG now owns 642,350 shares of the specialty retailer’s stock worth $145,672,000 after purchasing an additional 306,055 shares in the last quarter. Bank of Montreal Can raised its holdings in Alibaba Group by 9.5% in the 2nd quarter. Bank of Montreal Can now owns 2,731,545 shares of the specialty retailer’s stock worth $811,269,000 after purchasing an additional 236,236 shares in the last quarter. Clearline Capital LP bought a new position in Alibaba Group in the 1st quarter worth $1,837,000. Finally, XTX Topco Ltd bought a new position in Alibaba Group in the 1st quarter worth $624,000. Institutional investors own 24.48% of the company’s stock.
Shares of NYSE BABA traded down $2.38 during trading on Thursday, reaching $165.02. 313,665 shares of the company traded hands, compared to its average volume of 20,175,994. The firm has a 50 day simple moving average of $165.26 and a 200-day simple moving average of $199.57. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $448.55 billion, a PE ratio of 20.41, a P/E/G ratio of 1.31 and a beta of 0.79. Alibaba Group Holding Limited has a 52-week low of $138.43 and a 52-week high of $319.32.
Several research analysts have commented on BABA shares. Morgan Stanley decreased their price objective on shares of Alibaba Group from $300.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 6th. They noted that the move was a valuation call. DZ Bank lowered shares of Alibaba Group from a “buy” rating to a “sell” rating and set a $192.00 price objective for the company. in a report on Tuesday, July 27th. Bank of America decreased their price target on shares of Alibaba Group from $285.00 to $254.00 and set a “buy” rating for the company in a research note on Wednesday, September 29th. Raymond James lowered shares of Alibaba Group from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $300.00 to $240.00 in a research note on Friday, October 1st. Finally, Needham & Company LLC started coverage on shares of Alibaba Group in a research note on Wednesday, July 7th. They issued a “buy” rating and a $330.00 price target for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $280.44.
About Alibaba Group
Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.
Further Reading: Yield Curve
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