AlTi Global Inc. Purchases 1,520 Shares of Alibaba Group Holding Limited (NYSE:BABA)

AlTi Global Inc. boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,114 shares of the specialty retailer’s stock after acquiring an additional 1,520 shares during the quarter. AlTi Global Inc.’s holdings in Alibaba Group were worth $1,170,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC raised its holdings in Alibaba Group by 154.1% in the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings 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. SRN Advisors LLC raised its holdings in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares in the last quarter. ORG Partners LLC raised its holdings in 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 purchasing an additional 11,064 shares in the last quarter. Finally, Leo Wealth LLC bought a new position in Alibaba Group in the 4th quarter worth $1,734,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $95.43 on Thursday. The firm’s 50-day moving average price is $81.40 and its 200-day moving average price is $77.95. 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 company has a market cap of $229.68 billion, a PE ratio of 22.24, a PEG ratio of 0.46 and a beta of 0.33. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $97.50.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Bank of America upped their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.