Pzena Investment Management LLC Has $6.93 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Pzena Investment Management LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,310 shares of the specialty retailer’s stock after selling 315 shares during the period. Pzena Investment Management LLC’s holdings in Alibaba Group were worth $6,931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JW Asset Management LLC acquired a new stake in Alibaba Group in the 3rd quarter valued at $1,592,000. Advisors Asset Management Inc. increased its stake in Alibaba Group by 16.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,338 shares of the specialty retailer’s stock valued at $460,000 after buying an additional 614 shares during the last quarter. Gemsstock Ltd. acquired a new position in shares of Alibaba Group during the 3rd quarter worth about $16,746,000. West Family Investments Inc. increased its stake in shares of Alibaba Group by 22.5% during the 3rd quarter. West Family Investments Inc. now owns 5,451 shares of the specialty retailer’s stock worth $578,000 after purchasing an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Alibaba Group by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 42,886 shares of the specialty retailer’s stock worth $4,551,000 after purchasing an additional 845 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BABA. Loop Capital restated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Truist Financial cut their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Mizuho upped their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Sanford C. Bernstein raised their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Finally, Barclays reduced their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $86.77 on Thursday. The stock has a market capitalization of $207.76 billion, a PE ratio of 17.60, a P/E/G ratio of 0.39 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week 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 business has a fifty day moving average price of $98.45 and a two-hundred day moving average price of $85.82.

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

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.