Principal Financial Group Inc. Purchases 37,196 Shares of Alibaba Group Holding Limited (BABA)

Principal Financial Group Inc. increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,173,601 shares of the specialty retailer’s stock after buying an additional 37,196 shares during the period. Principal Financial Group Inc.’s holdings in Alibaba Group Holding Limited were worth $234,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. William Blair Investment Management LLC raised its stake in shares of Alibaba Group Holding Limited by 69.2% in the first quarter. William Blair Investment Management LLC now owns 7,603,566 shares of the specialty retailer’s stock worth $819,893,000 after buying an additional 3,110,026 shares during the period. Baillie Gifford & Co. raised its stake in shares of Alibaba Group Holding Limited by 5.5% in the fourth quarter. Baillie Gifford & Co. now owns 48,695,933 shares of the specialty retailer’s stock worth $4,275,990,000 after buying an additional 2,543,693 shares during the period. Lone Pine Capital LLC raised its stake in shares of Alibaba Group Holding Limited by 47.9% in the fourth quarter. Lone Pine Capital LLC now owns 7,619,109 shares of the specialty retailer’s stock worth $669,034,000 after buying an additional 2,467,648 shares during the period. Fisher Asset Management LLC raised its stake in shares of Alibaba Group Holding Limited by 68.6% in the first quarter. Fisher Asset Management LLC now owns 5,505,442 shares of the specialty retailer’s stock worth $593,652,000 after buying an additional 2,240,084 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock worth $2,332,996,000 after buying an additional 2,030,747 shares during the period. Hedge funds and other institutional investors own 36.73% of the company’s stock.

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

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 0.06% during trading on Tuesday, hitting $139.55. The stock had a trading volume of 6,038,488 shares. The stock’s 50-day moving average price is $125.23 and its 200 day moving average price is $107.39. The firm has a market capitalization of $353.06 billion, a P/E ratio of 55.91 and a beta of 2.63. Alibaba Group Holding Limited has a 1-year low of $73.30 and a 1-year high of $148.29.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the company posted $0.47 EPS. On average, analysts anticipate that Alibaba Group Holding Limited will post $4.50 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Principal Financial Group Inc. Purchases 37,196 Shares of Alibaba Group Holding Limited (BABA)” was originally posted by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://www.tickerreport.com/banking-finance/2655415/principal-financial-group-inc-purchases-37196-shares-of-alibaba-group-holding-limited-baba.html.

BABA has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $135.00 target price on shares of Alibaba Group Holding Limited in a research note on Friday, March 17th. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 16th. Stifel Nicolaus restated a “buy” rating and issued a $139.00 target price (up from $120.00) on shares of Alibaba Group Holding Limited in a research note on Friday, May 19th. CIBC raised their target price on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. Finally, Pacific Crest initiated coverage on Alibaba Group Holding Limited in a research note on Wednesday, March 22nd. They issued an “overweight” rating and a $134.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $137.11.

About Alibaba Group Holding Limited

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.