Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,920 shares of the specialty retailer’s stock after selling 686 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alibaba Group were worth $2,114,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA boosted its stake in Alibaba Group by 5.2% during 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 purchasing an additional 1,074,175 shares during the period. Assenagon Asset Management S.A. boosted its stake in Alibaba Group by 1,392.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the period. AMF Tjanstepension AB boosted its stake 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 valued at $296,062,000 after purchasing an additional 178,999 shares during the period. Eminence Capital LP boosted 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 purchasing an additional 150,488 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BABA. Mizuho boosted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Barclays boosted their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial dropped their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Susquehanna dropped their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Finally, Robert W. Baird boosted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Performance

Alibaba Group stock opened at $89.37 on Tuesday. The firm’s 50 day simple moving average is $98.34 and its 200-day simple moving average is $85.77. The company has a market cap of $213.99 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35. 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 fifty-two week low of $66.63 and a fifty-two week high of $117.82.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the firm posted $1.82 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

About Alibaba Group

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.