Triple Frond Partners LLC Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Triple Frond Partners LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 25.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,450 shares of the specialty retailer’s stock after purchasing an additional 34,950 shares during the quarter. Alibaba Group makes up approximately 4.2% of Triple Frond Partners LLC’s holdings, making the stock its 9th biggest holding. Triple Frond Partners LLC’s holdings in Alibaba Group were worth $38,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Logan Capital Management Inc. bought a new position in shares of Alibaba Group in the 1st quarter valued at about $29,000. Sageworth Trust Co bought a new position in Alibaba Group during the 1st quarter worth approximately $43,000. Burleson & Company LLC bought a new position in Alibaba Group during the 1st quarter worth approximately $45,000. Cowen Prime Advisors LLC bought a new position in Alibaba Group during the 2nd quarter worth approximately $45,000. Finally, Financial Management Professionals Inc. boosted its stake in Alibaba Group by 314.6% during the 2nd quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 151 shares during the last quarter. 24.48% of the stock is currently owned by institutional investors.

Shares of Alibaba Group stock traded down $1.60 during trading on Tuesday, reaching $149.89. The company’s stock had a trading volume of 461,359 shares, compared to its average volume of 19,761,924. The business’s 50-day moving average price is $182.94 and its 200-day moving average price is $209.05. The firm has a market cap of $407.43 billion, a PE ratio of 18.47, a P/E/G ratio of 1.31 and a beta of 0.79. Alibaba Group Holding Limited has a 52 week low of $149.09 and a 52 week high of $319.32. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA) last announced its earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $14.86. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. The company had revenue of $205.74 billion during the quarter, compared to analysts’ expectations of $208.67 billion. During the same quarter in the previous year, the business posted $14.82 earnings per share. Alibaba Group’s quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts predict that Alibaba Group Holding Limited will post 8.3 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Alibaba Group from $260.00 to $210.00 and set a “buy” rating on the stock in a research note on Wednesday, September 15th. Susquehanna dropped their target price on shares of Alibaba Group from $350.00 to $310.00 and set a “positive” rating on the stock in a report on Thursday, August 5th. KGI Securities started coverage on shares of Alibaba Group in a report on Monday, September 6th. They set a “neutral” rating on the stock. HSBC lowered their price objective on shares of Alibaba Group from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Finally, Erste Group downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a report on Friday, August 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $297.55.

About Alibaba Group

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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