Generate Investment Management Ltd Invests $12.66 Million in Alibaba Group Holding Limited (NYSE:BABA)

Generate Investment Management Ltd acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 119,264 shares of the specialty retailer's stock, valued at approximately $12,656,000.

A number of other institutional investors also recently modified their holdings of the stock. AMF Tjanstepension AB raised its position in 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 increased its stake in shares of Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer's stock valued at $102,596,000 after buying an additional 1,130,643 shares during the period. Renaissance Technologies LLC raised its position in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer's stock worth $96,163,000 after acquiring an additional 1,121,500 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer's stock valued at $1,574,711,000 after acquiring an additional 1,074,175 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in Alibaba Group by 39.2% in the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer's stock valued at $259,194,000 after acquiring an additional 1,009,397 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 2.4 %

BABA stock traded up $2.36 during mid-day trading on Friday, hitting $102.43. 20,824,610 shares of the company were exchanged, compared to its average volume of 17,930,746. The firm has a market cap of $259.92 billion, a P/E ratio of 23.88, a P/E/G ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm's 50 day simple moving average is $92.30 and its 200 day simple moving average is $82.24.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analysts' expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BABA shares. Morgan Stanley restated an "equal weight" rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. Benchmark reissued a "buy" rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Bank of America raised their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus target price of $112.63.

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.