Whale Rock Capital Management LLC Stake in Alibaba Group Hldg LTD (BABA) Has Decreased by $32.96 Million

August 9, 2018 - By Jason Dias

Whale Rock Capital Management Llc decreased its stake in Alibaba Group Hldg Ltd (BABA) by 19.52% based on its latest 2018Q1 regulatory filing with the SEC. Whale Rock Capital Management Llc sold 180,096 shares as the company’s stock rose 2.58% while stock markets declined. The hedge fund held 742,333 shares of the business services company at the end of 2018Q1, valued at $136.25M, down from 922,429 at the end of the previous reported quarter. Whale Rock Capital Management Llc who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $459.18B market cap company. The stock increased 0.57% or $1.014 during the last trading session, reaching $178.534. About 10.72 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 61.13% since August 9, 2017 and is uptrending. It has outperformed by 48.56% the S&P500.

Whale Rock Capital Management Llc, which manages about $1.16 billion and $2.94 billion US Long portfolio, upped its stake in Pros Holdings Inc (NYSE:PRO) by 231,311 shares to 839,796 shares, valued at $27.72 million in 2018Q1, according to the filing. It also increased its holding in Netflix Inc (NASDAQ:NFLX) by 262,751 shares in the quarter, for a total of 672,485 shares, and has risen its stake in Asml Holding N V (NASDAQ:ASML).

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on August, 23 before the open. They expect $0.84 EPS, down 10.64 % or $0.10 from last year’s $0.94 per share. BABA’s profit will be $2.16 billion for 53.14 P/E if the $0.84 EPS becomes a reality. After $0.54 actual EPS reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts 55.56 % EPS growth.

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Seekingalpha.com which released: “Alibaba Highlights Why Pinduoduo Can’t Succeed” on August 06, 2018, also Seekingalpha.com with their article: “China Has Fallen: Alibaba Is A Conviction Buy (Julian Lin)” published on August 08, 2018, Finance.Yahoo.com published: “Alibaba Is Nearing the Buy Zone After the Recent 10% Pullback” on August 07, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Livetradingnews.com and their article: “Alibaba Group Holding Limited (NYSE:BABA) saw new options become available” published on August 03, 2018 as well as Investorplace.com‘s news article titled: “4 Chinese Stocks To Buy During the Tech Dip” with publication date: August 07, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 12 analysts covering Alibaba Group (NYSE:BABA), 12 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Alibaba Group has $30500 highest and $219 lowest target. $253.58’s average target is 42.03% above currents $178.534 stock price. Alibaba Group had 16 analyst reports since March 6, 2018 according to SRatingsIntel. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Buy” rating by Bank of America on Monday, May 7. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Monday, May 7 by Stifel Nicolaus. The firm has “Buy” rating by Robert W. Baird given on Wednesday, March 14. RBC Capital Markets maintained the shares of BABA in report on Friday, April 27 with “Buy” rating. The rating was maintained by Robert W. Baird on Friday, May 4 with “Buy”. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Tuesday, May 29 by Robert W. Baird. On Thursday, June 14 the stock rating was maintained by Wells Fargo with “Outperform”. Oppenheimer maintained Alibaba Group Holding Limited (NYSE:BABA) on Tuesday, March 6 with “Buy” rating. The firm has “Overweight” rating by KeyBanc Capital Markets given on Tuesday, April 10. The firm earned “Buy” rating on Thursday, May 24 by Raymond James.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Chart

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