Thurston Springer Miller Herd & Titak Inc. Trims Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Thurston Springer Miller Herd & Titak Inc. trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,103 shares of the specialty retailer’s stock after selling 146 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Alibaba Group were worth $117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC raised its position in shares of 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 valued at $72,000 after buying an additional 128 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Alibaba Group by 11.2% during the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 154 shares during the last quarter. EPIQ Capital Group LLC raised its position in shares of Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after buying an additional 157 shares during the last quarter. Evolution Wealth Advisors LLC raised its position in shares of Alibaba Group by 4.1% during the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock valued at $288,000 after buying an additional 158 shares during the last quarter. Finally, WNY Asset Management LLC raised its position in shares of Alibaba Group by 2.8% during the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after buying an additional 164 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 5.5 %

NYSE:BABA opened at $101.85 on Wednesday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The company has a market cap of $258.44 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The stock has a fifty day simple moving average of $90.97 and a 200-day simple moving average of $81.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data 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. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. Analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BABA shares. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Barclays raised their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday. Susquehanna cut their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.63.

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.