Brighton Jones LLC Invests $258,000 in Alibaba Group Holding Limited (NYSE:BABA)

Brighton Jones LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,430 shares of the specialty retailer’s stock, valued at approximately $258,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. Eagle Bay Advisors LLC raised its stake in Alibaba Group by 369.4% during the third quarter. Eagle Bay Advisors LLC now owns 3,586 shares of the specialty retailer’s stock worth $381,000 after purchasing an additional 2,822 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Alibaba Group in the 3rd quarter valued at about $299,000. Private Advisor Group LLC grew its stake in shares of Alibaba Group by 47.1% in the 3rd quarter. Private Advisor Group LLC now owns 100,975 shares of the specialty retailer’s stock valued at $10,715,000 after buying an additional 32,324 shares during the period. Finally, Sierra Capital LLC increased its holdings in shares of Alibaba Group by 91.0% during the 3rd quarter. Sierra Capital LLC now owns 5,587 shares of the specialty retailer’s stock worth $593,000 after buying an additional 2,662 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.1 %

BABA opened at $97.42 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $247.20 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.55 and a beta of 0.35. The business has a fifty day moving average price of $94.08 and a 200 day moving average price of $83.16. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last issued its 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. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company earned $2.47 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

About Alibaba Group

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.