Platinum Investment Management Ltd. boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 18.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,407,045 shares of the specialty retailer’s stock after buying an additional 381,453 shares during the period. Alibaba Group accounts for 10.5% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its largest position. Platinum Investment Management Ltd. owned 0.09% of Alibaba Group worth $415,720,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. FMR LLC increased its holdings in Alibaba Group by 42.5% during the 2nd quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock worth $3,561,681,000 after purchasing an additional 7,544,165 shares during the period. Third Point LLC purchased a new stake in Alibaba Group during the 2nd quarter worth about $634,050,000. Hillhouse Capital Management Ltd. increased its holdings in Alibaba Group by 38,449.4% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock worth $503,076,000 after purchasing an additional 3,561,187 shares during the period. Boussard & Gavaudan Investment Management LLP increased its holdings in Alibaba Group by 37.1% during the 3rd quarter. Boussard & Gavaudan Investment Management LLP now owns 11,598,897 shares of the specialty retailer’s stock worth $1,986,697,000 after purchasing an additional 3,141,790 shares during the period. Finally, Egerton Capital UK LLP purchased a new stake in Alibaba Group during the 3rd quarter worth about $507,041,000. 38.13% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Bank of America reiterated a “buy” rating and issued a $200.00 price objective on shares of Alibaba Group in a report on Monday, October 16th. Needham & Company LLC raised their price target on Alibaba Group from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Oppenheimer restated an “outperform” rating and set a $190.00 price target (up previously from $165.00) on shares of Alibaba Group in a research note on Friday, August 25th. Vetr downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating and set a $199.42 price target on the stock. in a research note on Wednesday, October 4th. Finally, Zacks Investment Research upgraded Alibaba Group from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $185.14.
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Alibaba Group Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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