Bulltick Wealth Management LLC Sells 28,240 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Bulltick Wealth Management LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 41.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,467 shares of the specialty retailer’s stock after selling 28,240 shares during the period. Bulltick Wealth Management LLC’s holdings in Alibaba Group were worth $2,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BABA. First Command Advisory Services Inc. bought a new position in Alibaba Group during the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Alibaba Group during the first quarter valued at $31,000. Asset Dedication LLC lifted its position in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of Alibaba Group in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.2 %

BABA opened at $88.31 on Friday. 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 stock’s fifty day moving average is $80.79 and its two-hundred day moving average is $77.59. The company has a market capitalization of $224.09 billion, a P/E ratio of 20.59, a PEG ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $90.46.

Alibaba Group (NYSE:BABA) last announced 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 return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BABA. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial lowered their price target 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. Finally, Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.