Erste Asset Management GmbH Purchases Shares of 88,819 Alibaba Group Holding Limited (NYSE:BABA)

Erste Asset Management GmbH acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 88,819 shares of the specialty retailer’s stock, valued at approximately $9,496,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BABA. TRUE Private Wealth Advisors boosted its position in Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 112 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 121 shares during the last quarter. ICA Group Wealth Management LLC boosted its holdings in shares of Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the period. Cornerstone Wealth Management LLC raised its position in Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $87.37 on Monday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The company has a market capitalization of $209.05 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The firm has a 50 day moving average of $98.45 and a 200 day moving average of $86.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BABA has been the subject of a number of recent analyst reports. Loop Capital restated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. Susquehanna decreased their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Barclays cut their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Finally, Truist Financial decreased their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

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.