Trinity Street Asset Management LLP bought a new stake in Alibaba Group Holding Ltd. (NYSE:BABA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 636,646 shares of the company’s stock, valued at approximately $67,350,000. Alibaba Group Holding makes up 11.7% of Trinity Street Asset Management LLP’s holdings, making the stock its largest position.

A number of other hedge funds have also recently modified their holdings of BABA. Temasek Holdings Private Ltd raised its stake in Alibaba Group Holding by 13.7% in the second quarter. Temasek Holdings Private Ltd now owns 54,076,397 shares of the company’s stock worth $4,300,696,000 after buying an additional 6,526,596 shares during the period. Baillie Gifford & Co. raised its stake in Alibaba Group Holding by 7.5% in the second quarter. Baillie Gifford & Co. now owns 45,856,303 shares of the company’s stock worth $3,646,951,000 after buying an additional 3,192,797 shares during the period. Capital Research Global Investors raised its stake in Alibaba Group Holding by 10.3% in the second quarter. Capital Research Global Investors now owns 36,121,491 shares of the company’s stock worth $2,872,742,000 after buying an additional 3,383,013 shares during the period. Capital World Investors raised its stake in Alibaba Group Holding by 1.2% in the second quarter. Capital World Investors now owns 19,969,350 shares of the company’s stock worth $1,588,162,000 after buying an additional 240,000 shares during the period. Finally, Schroder Investment Management Group raised its stake in Alibaba Group Holding by 25.5% in the second quarter. Schroder Investment Management Group now owns 19,550,484 shares of the company’s stock worth $1,554,850,000 after buying an additional 3,977,085 shares during the period. 32.40% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Alibaba Group Holding (NYSE:BABA)

Alibaba Group Holding Ltd. (NYSE:BABA) traded up 0.02% during mid-day trading on Monday, reaching $93.41. The company’s stock had a trading volume of 8,926,920 shares. Alibaba Group Holding Ltd. has a 12-month low of $59.25 and a 12-month high of $109.87. The firm’s 50 day moving average is $100.90 and its 200-day moving average is $90.34. The company has a market cap of $231.47 billion, a PE ratio of 49.24 and a beta of 2.93.

Alibaba Group Holding (NYSE:BABA) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same period in the prior year, the company earned $0.57 earnings per share. Equities analysts anticipate that Alibaba Group Holding Ltd. will post $3.28 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. Evercore ISI increased their price objective on Alibaba Group Holding from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Jefferies Group raised their price target on Alibaba Group Holding from $103.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, November 3rd. Brean Capital raised their price target on Alibaba Group Holding from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. RBC Capital Markets raised their price target on Alibaba Group Holding from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, August 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 price target on shares of Alibaba Group Holding in a research note on Tuesday, November 1st. Three analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $117.01.

About Alibaba Group Holding

Alibaba Group Holding Limited is a holding company. The Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (the PRC or China) and internationally.

5 Day Chart for NYSE:BABA

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