DekaBank Deutsche Girozentrale Purchases 33,410 Shares of Alibaba Group Holding Limited (NYSE:BABA)

DekaBank Deutsche Girozentrale raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 86.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,870 shares of the specialty retailer’s stock after acquiring an additional 33,410 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Alibaba Group were worth $7,996,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BABA. ICA Group Wealth Management LLC grew its stake in Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Alibaba Group by 4.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after acquiring an additional 139 shares in the last quarter. EPIQ Capital Group LLC increased its stake in shares of Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after acquiring an additional 157 shares in the last quarter. Evolution Wealth Advisors LLC lifted its position in shares of Alibaba Group by 4.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock valued at $288,000 after acquiring an additional 158 shares during the period. Finally, WNY Asset Management LLC boosted its stake in Alibaba Group by 2.8% during the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after acquiring an additional 164 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Truist Financial reduced their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Barclays upped their target price on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Susquehanna reduced their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Alibaba Group Price Performance

Alibaba Group stock opened at $98.69 on Thursday. The stock has a market cap of $250.43 billion, a P/E ratio of 23.00, a P/E/G ratio of 0.55 and a beta of 0.35. 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’s 50 day moving average price is $95.08 and its two-hundred day moving average price is $83.70. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping 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 business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

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.