Alibaba Group Holding Limited (BABA) Short Interest Down 8.0% in October

Alibaba Group Holding Limited (NYSE:BABA) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 123,247,941 shares, a decline of 8.0% from the October 13th total of 133,936,922 shares. Based on an average daily volume of 16,885,763 shares, the short-interest ratio is presently 7.3 days. Currently, 4.8% of the shares of the company are short sold.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in Alibaba Group Holding Limited by 2.2% during the second quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock worth $4,736,830,000 after acquiring an additional 738,281 shares in the last quarter. FMR LLC boosted its stake in Alibaba Group Holding Limited by 42.5% during the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock worth $3,561,681,000 after acquiring an additional 7,544,165 shares in the last quarter. Jennison Associates LLC boosted its stake in Alibaba Group Holding Limited by 3.3% during the second quarter. Jennison Associates LLC now owns 20,448,110 shares of the specialty retailer’s stock worth $2,881,139,000 after acquiring an additional 661,109 shares in the last quarter. Capital World Investors boosted its stake in Alibaba Group Holding Limited by 5.7% during the second quarter. Capital World Investors now owns 20,243,958 shares of the specialty retailer’s stock worth $2,852,374,000 after acquiring an additional 1,091,620 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Alibaba Group Holding Limited by 5.4% during the second quarter. UBS Asset Management Americas Inc. now owns 12,234,002 shares of the specialty retailer’s stock worth $1,723,771,000 after acquiring an additional 626,446 shares in the last quarter. 37.47% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on BABA. Bank of America Corporation reissued a “buy” rating and issued a $200.00 price objective on shares of Alibaba Group Holding Limited in a report on Monday, October 16th. Needham & Company LLC boosted their target price on shares of Alibaba Group Holding Limited from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $190.00 target price (up from $165.00) on shares of Alibaba Group Holding Limited in a research report on Friday, August 25th. Vetr cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $199.42 target price for the company. in a research report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $211.00 target price for the company in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $184.45.

Alibaba Group Holding Limited (NYSE BABA) opened at $181.79 on Wednesday. The stock has a market cap of $465,590.00, a price-to-earnings ratio of 54.19, a P/E/G ratio of 1.41 and a beta of 2.60. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $191.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a net margin of 30.87% and a return on equity of 17.89%. During the same period in the prior year, the firm earned $0.74 earnings per share. analysts predict that Alibaba Group Holding Limited will post 4.31 EPS for the current year.

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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.

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