Carrhae Capital LLP Has $59.40 Million Stake in Alibaba Group Holding Limited $BABA

Carrhae Capital LLP trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA) by 6.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 523,722 shares of the specialty retailer’s stock after selling 35,251 shares during the quarter. Alibaba Group accounts for approximately 4.3% of Carrhae Capital LLP’s holdings, making the stock its 6th biggest holding. Carrhae Capital LLP’s holdings in Alibaba Group were worth $59,395,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new stake in Alibaba Group in the 1st quarter valued at about $26,000. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC increased its stake in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BABA. Bank of America raised their target price on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Benchmark raised their price target on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Citigroup restated a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Nomura upped their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $170.17 on Monday. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market cap of $406.04 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.18. The company’s 50-day moving average price is $161.36 and its two-hundred day moving average price is $133.46.

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.