Modera Wealth Management LLC Acquires Shares of 2,121 Alibaba Group Holding Limited (NYSE:BABA)

Modera Wealth Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,121 shares of the specialty retailer’s stock, valued at approximately $225,000.

Other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the 2nd quarter worth $25,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Alibaba Group by 139.3% during the 2nd 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 in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group during the 2nd quarter worth $27,000. Asset Dedication LLC grew its holdings in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alibaba Group during the 2nd quarter worth $38,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird upped their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein upped their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. 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. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Bank of America upped their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Alibaba Group Price Performance

Shares of BABA opened at $99.82 on Wednesday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $253.29 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The business has a 50-day moving average of $94.77 and a 200-day moving average of $83.60.

Alibaba Group (NYSE:BABA) last released 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. 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 during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share 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.