BABA Stock: Third Point LLC Has $1.14 Billion Position in Alibaba Group Holding Limited

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BABA Stock: Third Point LLC Has $1.14 Billion Position in Alibaba Group Holding Limited


Third Point LLC increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 46.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,600,000 shares of the specialty retailer’s stock after buying an additional 2,100,000 shares during the period. Alibaba Group accounts for about 9.6% of Third Point LLC’s investment portfolio, making the stock its 2nd biggest position. Third Point LLC owned about 0.26% of Alibaba Group worth $1,139,886,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BABA. Dai Ichi Life Insurance Company Ltd raised its position in Alibaba Group by 2.5% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 271,465 shares of the specialty retailer’s stock valued at $46,885,000 after purchasing an additional 6,640 shares during the period. BKS Advisors LLC raised its position in Alibaba Group by 22.8% during the third quarter. BKS Advisors LLC now owns 14,403 shares of the specialty retailer’s stock valued at $2,488,000 after purchasing an additional 2,675 shares during the period. Axiom International Investors LLC DE raised its position in Alibaba Group by 7.5% during the third quarter. Axiom International Investors LLC DE now owns 2,622,902 shares of the specialty retailer’s stock valued at $453,001,000 after purchasing an additional 182,989 shares during the period. Zevenbergen Capital Investments LLC raised its position in Alibaba Group by 1,215.2% during the third quarter. Zevenbergen Capital Investments LLC now owns 280,697 shares of the specialty retailer’s stock valued at $48,479,000 after purchasing an additional 259,355 shares during the period. Finally, Virginia Retirement Systems ET AL raised its position in Alibaba Group by 7.7% during the third quarter. Virginia Retirement Systems ET AL now owns 91,300 shares of the specialty retailer’s stock valued at $15,768,000 after purchasing an additional 6,500 shares during the period. Institutional investors own 38.13% of the company’s stock.

A number of equities research analysts have issued reports on BABA shares. Barclays PLC upped their price objective on Alibaba Group to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. BidaskClub raised Alibaba Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Vetr raised Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $173.25 target price on the stock in a research note on Tuesday, August 15th. Stifel Nicolaus upped their target price on Alibaba Group from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $160.00 target price on shares of Alibaba Group in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $184.45.

Alibaba Group Holding Limited (NYSE:BABA) opened at $188.03 on Tuesday. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $191.75. The stock has a market capitalization of $489,667.06, a P/E ratio of 55.58, a P/E/G ratio of 1.45 and a beta of 2.61. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

About Alibaba Group

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, 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 (China) and internationally.

 



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