Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 37.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,266 shares of the specialty retailer’s stock after selling 19,026 shares during the period. US Bancorp DE’s holdings in Alibaba Group were worth $3,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BABA. Primecap Management Co. CA raised its holdings in shares of Alibaba Group by 5.2% during the second 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. Assenagon Asset Management S.A. boosted its position in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the period. Discerene Group LP raised its position in Alibaba Group by 21.2% during the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares during the period. AMF Tjanstepension AB boosted its position in Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after acquiring an additional 178,999 shares during the period. Finally, Eminence Capital LP grew its stake in Alibaba Group by 9.0% during the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after acquiring an additional 150,488 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $99.24 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market cap of $237.68 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. The stock’s 50-day moving average price is $96.31 and its two-hundred day moving average price is $84.62. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $2.47 earnings per share. On average, equities analysts predict that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on BABA shares. Truist Financial decreased their price target 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. 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 report on Friday, August 16th. Barclays increased their price objective on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Bank of America boosted their price target 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 fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Company 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.