Alibaba Group Holding Limited (NYSE:BABA) Position Lessened by Calton & Associates Inc.

Calton & Associates Inc. decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,658 shares of the specialty retailer’s stock after selling 1,605 shares during the period. Calton & Associates Inc.’s holdings in Alibaba Group were worth $282,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BABA. AMF Tjanstepension AB increased its position in Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares during the period. Marshall Wace LLP increased its position in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after acquiring an additional 1,130,643 shares during the period. Renaissance Technologies LLC increased its position in Alibaba Group by 523.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after acquiring an additional 1,121,500 shares during the period. Primecap Management Co. CA increased its position in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after acquiring an additional 1,074,175 shares during the period. Finally, Varma Mutual Pension Insurance Co increased its position in Alibaba Group by 256.8% in the 2nd quarter. Varma Mutual Pension Insurance Co now owns 781,832 shares of the specialty retailer’s stock valued at $56,292,000 after acquiring an additional 562,732 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BABA. Robert W. Baird raised their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating 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, Sanford C. Bernstein lifted their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.63.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $100.42 on Wednesday. The stock has a market cap of $254.82 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The business has a fifty day simple moving average of $93.09 and a 200-day simple moving average of $82.71. 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.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 earnings per share. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS 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.