Commonwealth Equity Services LLC Sells 11,856 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Commonwealth Equity Services LLC lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,015 shares of the specialty retailer’s stock after selling 11,856 shares during the period. Commonwealth Equity Services LLC’s holdings in Alibaba Group were worth $10,081,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BABA. International Assets Investment Management LLC grew its stake in Alibaba Group by 168.6% during the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock valued at $794,000 after acquiring an additional 6,431 shares in the last quarter. Victory Capital Management Inc. grew its stake in Alibaba Group by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock worth $1,068,000 after buying an additional 1,899 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Alibaba Group by 9.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,710 shares of the specialty retailer’s stock worth $210,000 after buying an additional 227 shares in the last quarter. Merit Financial Group LLC grew its stake in Alibaba Group by 5.1% in the 4th quarter. Merit Financial Group LLC now owns 4,405 shares of the specialty retailer’s stock worth $341,000 after buying an additional 214 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Alibaba Group in the 4th quarter worth approximately $1,036,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.1 %

NYSE:BABA opened at $82.41 on Friday. The company has a fifty day moving average of $78.70 and a 200 day moving average of $76.85. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $95.80. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $209.10 billion, a P/E ratio of 19.21, a P/E/G ratio of 0.42 and a beta of 0.32.

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

Wall Street Analyst Weigh In

BABA has been the subject of a number of research reports. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Citigroup cut their price target on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Mizuho cut their price target on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

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.