Cowen AND Company LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 34.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 524,626 shares of the specialty retailer’s stock after acquiring an additional 135,083 shares during the quarter. Alibaba Group makes up 1.1% of Cowen AND Company LLC’s holdings, making the stock its 16th largest holding. Cowen AND Company LLC’s holdings in Alibaba Group were worth $37,773,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the second quarter valued at $25,000. GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares in the last quarter. Register Financial Advisors LLC purchased a new position in Alibaba Group during the 1st quarter valued at about $31,000. Asset Dedication LLC raised its holdings in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of Alibaba Group in the 2nd quarter worth approximately $40,000. 13.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Mizuho cut their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $107.61.
Alibaba Group Price Performance
Shares of BABA traded down $0.39 during trading hours on Monday, hitting $80.79. 1,964,989 shares of the stock were exchanged, compared to its average volume of 16,452,197. The stock’s 50-day moving average price is $78.89 and its two-hundred day moving average price is $76.93. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $90.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $205.00 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 0.41 and a beta of 0.33.
Alibaba Group (NYSE:BABA – Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 EPS. Research analysts expect that Alibaba Group Holding Limited will post 7.93 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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