Good Life Advisors LLC decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 20.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,784 shares of the specialty retailer’s stock after selling 984 shares during the quarter. Good Life Advisors LLC’s holdings in Alibaba Group were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. ST Germain D J Co. Inc. bought a new position in shares of Alibaba Group in the fourth quarter worth $35,000. Milestone Investment Advisors LLC bought a new stake in shares of Alibaba Group during the 1st quarter valued at about $36,000. Resurgent Financial Advisors LLC purchased a new position in shares of Alibaba Group during the fourth quarter worth about $36,000. Syverson Strege & Co bought a new position in shares of Alibaba Group in the first quarter worth approximately $40,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Alibaba Group during the fourth quarter valued at approximately $44,000. 14.22% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Susquehanna restated a “positive” rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Thursday, August 31st. Citigroup upped their price objective on Alibaba Group from $149.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, August 11th. UBS Group upped their target price on Alibaba Group from $110.00 to $120.00 in a research note on Friday, August 11th. DZ Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, August 11th. Finally, HSBC upped their price objective on shares of Alibaba Group from $131.00 to $142.00 in a research note on Sunday, August 13th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $138.64.
Alibaba Group Stock Performance
Shares of BABA stock opened at $87.02 on Tuesday. The firm has a market capitalization of $223.27 billion, a price-to-earnings ratio of 18.71 and a beta of 0.70. The stock has a fifty day moving average of $93.11 and a 200 day moving average of $89.57. Alibaba Group Holding Limited has a 52 week low of $58.01 and a 52 week high of $121.30. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.14.
Alibaba Group (NYSE:BABA – Get Free Report) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $17.37 EPS for the quarter, topping the consensus estimate of $14.59 by $2.78. Alibaba Group had a net margin of 9.45% and a return on equity of 12.55%. The firm had revenue of $234.16 billion during the quarter, compared to analysts’ expectations of $224.75 billion. During the same period last year, the company posted $1.40 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts expect that Alibaba Group Holding Limited will post 8.2 earnings per share for the current year.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.
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