Investor Market Move: Harvard Management Co INC Upped Alibaba Group Hldg LTD (BABA) Position by $8.25 Million

Investor Market Move: Harvard Management Co INC Upped Alibaba Group Hldg LTD (BABA) Position by $8.25 Million

Jane Mendillo increased its stake in Alibaba Group Hldg Ltd (BABA) by 16.1% based on its latest 2016Q3 regulatory filing with the SEC. Harvard Management Co Inc bought 78,588 shares as the company’s stock rose 32.82% with the market. The hedge fund run by Jane Mendillo held 566,564 shares of the business services company at the end of 2016Q3, valued at $59.94M, up from 487,976 at the end of the previous reported quarter. Harvard Management Co Inc who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be bullish on the $241.47 billion market cap company. The stock is up 0.47% or $0.45 after the positive news, hitting $97.2 per share. About 10,607 shares traded hands. Alibaba Group Holding Ltd (NYSE:BABA) has risen 24.29% since June 7, 2016 and is uptrending. It has outperformed by 16.87% the S&P500.

A fully owned subsidiary of Harvard University, the Harvard Management Company is currently overseen by Jane Mendillo who is a graduate of Yale. Since the summer of 2008, she has long been the company’s President and CEO.

More notable recent Alibaba Group Holding Ltd (NYSE:BABA) news were published by: Investorplace.com which released: “Why Alibaba Group Holding Ltd (BABA) Stock Is a Survivor” on January 10, 2017, also Investorplace.com with their article: “Profit From the Return of Alibaba Group Holding Ltd (BABA) Stock Bulls” published on January 10, 2017, Reuters.com published: “Alibaba leads $2.6 billion bid for Chinese retailer Intime” on January 10, 2017. More interesting news about Alibaba Group Holding Ltd (NYSE:BABA) were released by: Investorplace.com and their article: “Protect Yourself Against the Alibaba Group Holding Ltd (BABA) Stock Free Fall” published on January 06, 2017 as well as Investorplace.com‘s news article titled: “4 Big Reasons Alibaba Group Holding Ltd (BABA) Stock Is a No-Go” with publication date: January 03, 2017.

According to Zacks Investment Research, “Alibaba Group Holding Limited operates online and mobile marketplaces in retail and wholesale trade, as well as cloud computing and other services. It provides technology and services to enable consumers, merchants, and other participants to conduct commerce in its ecosystem. The Company operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace. Alibaba Group Holding Limited is headquartered in Hangzhou, the People’s Republic of China.”

Alibaba Group Holding Ltd (NYSE:BABA) Ratings Coverage

Out of 31 analysts covering Alibaba (NYSE:BABA), 30 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 97% are positive. Alibaba has been the topic of 89 analyst reports since August 12, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Outperform” rating and $110 target price in Friday, August 12 report. The firm has “Buy” rating by Jefferies given on Thursday, November 3. Robert W. Baird initiated it with “Outperform” rating and $94.0 target price in Thursday, January 7 report. The firm has “Overweight” rating given on Saturday, August 29 by Morgan Stanley. Credit Suisse maintained the stock with “Outperform” rating in Friday, May 6 report. The rating was upgraded by Macquarie Research to “Outperform” on Friday, August 12. The firm has “Buy” rating given on Wednesday, August 12 by M Partners. The firm has “Buy” rating given on Friday, August 12 by SunTrust. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, August 13. Morgan Stanley maintained the stock with “Overweight” rating in Friday, August 12 report.

BABA Company Profile

Alibaba Group Holding Limited, incorporated on June 28, 1999, is a holding company. The Firm is principally 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 (the PRC or China) and internationally. It operates through the provision of online and mobile commerce and related services segment. The Firm provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company include the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from clients through limited time discounted sales (Juhuasuan), and the global consumer marketplace targeting clients around the world (AliExpress). Wholesale marketplaces operated by the Company include the online China wholesale marketplace (1688.com) and the online business-to-business marketplace that focuses on global trade among businesses from around the world (Alibaba.com).

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