Trading Report: Today, Alibaba Group Holding Ltd. (BABA) is Ngam Advisors L.P.’s 9th Largest Position

Today, Alibaba Group Holding Ltd. (BABA) is Ngam Advisors L.P.’s 9th Largest Position

Ngam Advisors L.P. raised its position in Alibaba Group Holding Ltd. (NYSE:BABA) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 754,286 shares of the company’s stock after buying an additional 28,026 shares during the period. Alibaba Group Holding accounts for about 1.0% of Ngam Advisors L.P.’s holdings, making the stock its 9th largest position. Ngam Advisors L.P.’s holdings in Alibaba Group Holding were worth $79,796,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Daiwa SB Investments Ltd. raised its position in Alibaba Group Holding by 29.3% in the second quarter. Daiwa SB Investments Ltd. now owns 76,750 shares of the company’s stock valued at $5,990,000 after buying an additional 17,400 shares in the last quarter. British Columbia Investment Management Corp raised its position in Alibaba Group Holding by 95.9% in the second quarter. British Columbia Investment Management Corp now owns 224,900 shares of the company’s stock valued at $17,886,000 after buying an additional 110,100 shares during the period. Washington Trust Bank raised its position in Alibaba Group Holding by 2.5% in the second quarter. Washington Trust Bank now owns 3,799 shares of the company’s stock valued at $302,000 after buying an additional 92 shares during the period. NEXT Financial Group Inc raised its position in Alibaba Group Holding by 2.6% in the second quarter. NEXT Financial Group Inc now owns 4,920 shares of the company’s stock valued at $391,000 after buying an additional 126 shares during the period. Finally, Raymond James Trust N.A. raised its position in Alibaba Group Holding by 11.3% in the second quarter. Raymond James Trust N.A. now owns 9,603 shares of the company’s stock valued at $764,000 after buying an additional 972 shares during the period. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Holding Ltd. (NYSE:BABA) opened at 93.03 on Friday. Alibaba Group Holding Ltd. has a 12 month low of $59.25 and a 12 month high of $109.87. The firm has a 50-day moving average price of $99.88 and a 200 day moving average price of $90.77. The firm has a market capitalization of $230.53 billion, a price-to-earnings ratio of 48.94 and a beta of 2.93.

Alibaba Group Holding (NYSE:BABA) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same period last year, the company earned $0.57 EPS. On average, equities analysts forecast that Alibaba Group Holding Ltd. will post $3.28 EPS for the current year.

BABA has been the topic of several recent research reports. Vetr raised Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $120.23 price target on the stock in a research report on Tuesday, October 11th. JPMorgan Chase & Co. initiated coverage on Alibaba Group Holding in a research report on Wednesday, August 31st. They set an “overweight” rating and a $135.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $132.00 price target on shares of Alibaba Group Holding in a research report on Friday, November 11th. Citigroup Inc. boosted their price target on Alibaba Group Holding from $112.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, October 27th. Finally, Needham & Company LLC boosted their price target on Alibaba Group Holding from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. Alibaba Group Holding has a consensus rating of “Buy” and a consensus price target of $117.01.

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