Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,447 shares of the specialty retailer’s stock after buying an additional 300 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Alibaba Group were worth $680,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. ICA Group Wealth Management LLC boosted its position in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Alibaba Group by 16.7% during the 1st quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 142 shares in the last quarter. Legacy Advisors LLC grew its holdings in shares of Alibaba Group by 1.4% in the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 145 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 worth $111,000 after purchasing an additional 154 shares during the period. Finally, Evolution Wealth Advisors LLC lifted its holdings 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 purchasing an additional 158 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BABA shares. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Down 1.3 %

BABA stock opened at $83.61 on Tuesday. The business’s 50-day simple moving average is $80.07 and its 200 day simple moving average is $77.28. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $212.16 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $90.46.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the business posted $2.47 earnings per share. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. On average, 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.