Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 117,740 shares of the specialty retailer’s stock after selling 860 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Alibaba Group were worth $12,495,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Alibaba Group during the first quarter worth about $529,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Alibaba Group by 8.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock worth $599,000 after buying an additional 632 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Alibaba Group by 10.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 31,884 shares of the specialty retailer’s stock worth $2,307,000 after purchasing an additional 2,929 shares during the period. Concurrent Investment Advisors LLC raised its position in Alibaba Group by 123.1% during the first quarter. Concurrent Investment Advisors LLC now owns 7,158 shares of the specialty retailer’s stock valued at $518,000 after buying an additional 3,950 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in Alibaba Group in the 1st quarter worth about $190,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock traded down $5.95 during trading on Friday, reaching $94.19. 24,879,795 shares of the company were exchanged, compared to its average volume of 15,538,736. The company has a 50-day moving average of $97.25 and a two-hundred day moving average of $84.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. 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 capitalization of $225.58 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 0.43 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted 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 for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $2.47 EPS. As a group, equities analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BABA has been the subject of a number of research reports. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Susquehanna cut their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.13.

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.