Hangzhou, China-based e-commerce giant Alibaba Group Holding Limited (BABA) recently reported a solid quarterly revenue. For the quarter that ended June 30, BABA reported revenue of 234.16 billion yuan or $32.29 billion, indicating a 14% year-over-year growth and topped the analysts' estimate of 224.92 billion yuan.
The tech giant also experiences a lot of attention from smart money, with 14.6% of its shares held by institutions. As of June 30, 536 institutional holders have increased positions in the company, while 137 have opened new positions.
