Allworth Financial LP Sells 185 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Allworth Financial LP lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,533 shares of the specialty retailer’s stock after selling 185 shares during the quarter. Allworth Financial LP’s holdings in Alibaba Group were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pavion Blue Capital LLC bought a new stake in shares of Alibaba Group in the third quarter worth $255,000. Ballentine Partners LLC lifted its stake in Alibaba Group by 18.0% in the third quarter. Ballentine Partners LLC now owns 13,113 shares of the specialty retailer’s stock valued at $1,392,000 after acquiring an additional 2,004 shares during the last quarter. Zweig DiMenna Associates LLC lifted its stake in Alibaba Group by 582.5% in the third quarter. Zweig DiMenna Associates LLC now owns 61,500 shares of the specialty retailer’s stock valued at $6,526,000 after acquiring an additional 52,489 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. Finally, BOCHK Asset Management Ltd acquired a new stake in Alibaba Group in the third quarter valued at $6,537,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $99.82 on Wednesday. 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 12 month low of $66.63 and a 12 month high of $117.82. The firm has a market cap of $253.29 billion, a P/E ratio of 23.27, a P/E/G ratio of 0.55 and a beta of 0.35. The company’s 50-day moving average price is $94.77 and its two-hundred day moving average price is $83.60.

Alibaba Group (NYSE:BABA) last released its 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 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 analyst estimates of $248.32 billion. During the same period last year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate 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 analysts have commented on the stock. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Barclays increased their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research 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. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target 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.