Rings Capital Management LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Rings Capital Management LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,000 shares of the specialty retailer's stock, valued at approximately $753,000. Alibaba Group comprises approximately 0.4% of Rings Capital Management LLC's portfolio, making the stock its 8th biggest holding.

Several other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock valued at $228,000 after purchasing an additional 121 shares during the last quarter. ICA Group Wealth Management LLC boosted its holdings in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock worth $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC grew its stake in Alibaba Group by 4.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer's stock valued at $361,000 after buying an additional 139 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer's stock valued at $515,000 after acquiring an additional 143 shares during the period. Finally, Concord Wealth Partners boosted its holdings in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 155 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BABA. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, August 16th. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, November 19th. Susquehanna dropped their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research note on Monday, August 19th. Bank of America increased their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Sanford C. Bernstein boosted their price target on Alibaba Group from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.07.

Alibaba Group Price Performance

Shares of BABA traded up $1.41 during mid-day trading on Thursday, reaching $86.59. The company had a trading volume of 13,607,643 shares, compared to its average volume of 17,635,047. The company's 50 day simple moving average is $98.51 and its 200 day simple moving average is $86.01. The company has a market capitalization of $207.18 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.42 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 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to analysts' expectations of $239.45 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

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.