Varma Mutual Pension Insurance Co Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Varma Mutual Pension Insurance Co grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 256.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 781,832 shares of the specialty retailer’s stock after purchasing an additional 562,732 shares during the quarter. Alibaba Group makes up about 0.5% of Varma Mutual Pension Insurance Co’s holdings, making the stock its 29th largest position. Varma Mutual Pension Insurance Co’s holdings in Alibaba Group were worth $56,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BABA. Bogart Wealth LLC boosted its stake in shares of Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after buying an additional 142 shares during the period. Legacy Advisors LLC lifted its position in Alibaba Group by 1.4% during the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 145 shares during the period. North Star Investment Management Corp. grew its stake in shares of Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 154 shares during the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Alibaba Group by 4.1% in the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock valued at $288,000 after purchasing an additional 158 shares during the period. Finally, WNY Asset Management LLC raised its stake in shares of Alibaba Group by 2.8% during the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after purchasing an additional 164 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BABA. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Susquehanna dropped their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Mizuho reduced their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Robert W. Baird boosted their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Down 1.5 %

Shares of BABA stock traded down $1.25 during trading hours on Friday, hitting $81.18. 11,712,670 shares of the company were exchanged, compared to its average volume of 16,535,105. The business’s 50-day simple moving average is $78.89 and its two-hundred day simple moving average is $76.92. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $91.76. The stock has a market capitalization of $205.99 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 0.42 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. Sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Alibaba Group Company 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.