Parallel Advisors LLC Sells 398 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Parallel Advisors LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,311 shares of the specialty retailer’s stock after selling 398 shares during the quarter. Parallel Advisors LLC’s holdings in Alibaba Group were worth $598,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA grew its stake in shares of Alibaba Group by 5.1% in the 4th quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer’s stock worth $1,412,618,000 after buying an additional 881,710 shares in the last quarter. Sanders Capital LLC increased its stake in Alibaba Group by 5.4% during the fourth quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock worth $1,228,398,000 after acquiring an additional 819,019 shares during the last quarter. FIL Ltd raised its position in Alibaba Group by 10.2% during the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock valued at $823,986,000 after purchasing an additional 983,842 shares during the period. H&H International Investment LLC boosted its holdings in shares of Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after purchasing an additional 1,918,730 shares during the period. Finally, Norges Bank bought a new position in shares of Alibaba Group during the 4th quarter valued at approximately $329,367,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BABA shares. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Sanford C. Bernstein increased their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. 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. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Down 1.3 %

Shares of Alibaba Group stock opened at $83.61 on Tuesday. The firm’s 50 day moving average price is $80.07 and its 200-day moving average price is $77.28. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $90.46. The company has a market cap of $212.16 billion, a P/E ratio of 19.49, a PEG ratio of 0.43 and a beta of 0.33.

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 analysts’ consensus estimates 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 return on equity of 12.08% and a net margin of 7.31%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $2.47 earnings per share. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS 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.