Ballentine Partners LLC Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Ballentine Partners LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 18.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,113 shares of the specialty retailer’s stock after purchasing an additional 2,004 shares during the quarter. Ballentine Partners LLC’s holdings in Alibaba Group were worth $1,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fiduciary Alliance LLC lifted its stake in Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after purchasing an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares in the last quarter. Generate Investment Management Ltd bought a new position in Alibaba Group during the third quarter valued at approximately $12,656,000. SRN Advisors LLC raised its stake in shares of Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 9,663 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BABA. Truist Financial decreased their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Susquehanna dropped their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Price Performance

Shares of BABA opened at $97.38 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm’s 50-day simple moving average is $93.79 and its two-hundred day simple moving average is $82.91. The stock has a market cap of $247.09 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal 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.