Fluent Financial LLC Sells 2,499 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Fluent Financial LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA) by 22.4% in the 3rd quarter, Holdings Channel reports. The fund owned 8,670 shares of the specialty retailer’s stock after selling 2,499 shares during the quarter. Fluent Financial LLC’s holdings in Alibaba Group were worth $920,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Peapack Gladstone Financial Corp bought a new stake in shares of Alibaba Group in the 4th quarter worth approximately $351,000. Belpointe Asset Management LLC bought a new position in shares of Alibaba Group during the fourth quarter valued at about $294,000. Oppenheimer & Co. Inc. increased its holdings in shares of Alibaba Group by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 52,359 shares of the specialty retailer’s stock worth $4,058,000 after buying an additional 2,327 shares during the period. Exencial Wealth Advisors LLC bought a new stake in shares of Alibaba Group in the 4th quarter valued at about $396,000. Finally, Stephens Inc. AR boosted its holdings in Alibaba Group by 16.1% during the 4th quarter. Stephens Inc. AR now owns 11,452 shares of the specialty retailer’s stock valued at $888,000 after acquiring an additional 1,586 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BABA shares. Susquehanna decreased their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Bank of America increased their price objective on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Up 1.5 %

Shares of Alibaba Group stock traded up $1.69 during midday trading on Friday, hitting $114.53. The company had a trading volume of 25,699,080 shares, compared to its average volume of 17,586,789. The company has a 50 day moving average of $86.60 and a 200 day moving average of $79.79. The stock has a market capitalization of $290.62 billion, a P/E ratio of 26.70, a P/E/G ratio of 0.46 and a beta of 0.35. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $116.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

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

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.