Massachusetts Financial Services Co. MA Raises Position in Alibaba Group Holding Limited (NYSE:BABA)

Massachusetts Financial Services Co. MA boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 7,734.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 269,805 shares of the specialty retailer's stock after buying an additional 266,361 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Alibaba Group were worth $28,632,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer's stock valued at $650,043,000 after buying an additional 5,715,155 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer's stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the period. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer's stock worth $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Alibaba Group by 384.2% during the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer's stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer's stock valued at $96,163,000 after purchasing an additional 1,121,500 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Macquarie upgraded Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 target price for the company in a report on Monday, October 7th. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Mizuho boosted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Susquehanna decreased their price target on Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research note on Monday, August 19th. Two equities 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.07.

Alibaba Group Stock Performance

Shares of NYSE BABA traded down $0.40 during mid-day trading on Tuesday, hitting $85.18. The company had a trading volume of 10,225,447 shares, compared to its average volume of 17,648,480. The stock's 50-day moving average price is $98.47 and its 200-day moving average price is $86.00. The company has a market capitalization of $203.81 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current 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.