Quantum Private Wealth LLC Sells 1,170 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Quantum Private Wealth LLC reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,398 shares of the specialty retailer’s stock after selling 1,170 shares during the period. Alibaba Group comprises 0.9% of Quantum Private Wealth LLC’s portfolio, making the stock its 18th largest holding. Quantum Private Wealth LLC’s holdings in Alibaba Group were worth $2,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. CANADA LIFE ASSURANCE Co boosted its stake in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after purchasing an additional 139,134 shares in the last quarter. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group in the third quarter valued at about $12,656,000. SRN Advisors LLC grew its holdings in shares of Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the period. Handelsbanken Fonder AB boosted its stake in Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after buying an additional 50,000 shares during the period. Finally, United Advisor Group LLC purchased a new position in Alibaba Group during the third quarter worth about $631,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 4.4 %

Shares of BABA opened at $95.74 on Friday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. 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 firm has a market capitalization of $229.30 billion, a P/E ratio of 26.22, a P/E/G ratio of 0.46 and a beta of 0.35. The company has a 50-day simple moving average of $96.65 and a 200-day simple moving average of $84.70.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Two equities research 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 $113.13.

Alibaba Group Company 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.