Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by State Street Corp

State Street Corp lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 531,933 shares of the specialty retailer’s stock after selling 1,840 shares during the period. State Street Corp’s holdings in Alibaba Group were worth $56,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. TRUE Private Wealth Advisors boosted its stake in Alibaba Group by 3.7% during the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after buying an additional 112 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC increased its holdings in Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in Alibaba Group by 3.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 143 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Barclays cut their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Finally, StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Price Performance

BABA stock opened at $85.00 on Thursday. The business has a 50 day moving average price of $93.28 and a 200 day moving average price of $86.49. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a market cap of $203.13 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.44 and a beta of 0.30. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

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.