14,511 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, HoldingsChannel reports. The fund acquired 14,511 shares of the specialty retailer’s stock, valued at approximately $1,045,000.

Several other large investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. bought a new position in Alibaba Group during the second quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $31,000. Asset Dedication LLC boosted its stake in shares of Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 400 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in Alibaba Group during the 4th quarter worth $42,000. Institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BABA shares. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Three research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Down 0.2 %

Shares of NYSE BABA opened at $88.31 on Friday. The company has a 50 day simple moving average of $80.79 and a 200 day simple moving average of $77.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46. The firm has a market cap of $224.09 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. On average, research analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current 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.