Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,993,617 shares of the specialty retailer’s stock after selling 123,157 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Alibaba Group worth $211,563,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC raised its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group during the 2nd quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $31,000. Finally, Asset Dedication LLC raised its stake in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after buying an additional 400 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Up 2.4 %

Shares of NYSE BABA traded up $2.36 during mid-day trading on Friday, reaching $102.43. 20,824,610 shares of the company’s stock were exchanged, compared to its average volume of 17,930,746. The firm has a market capitalization of $259.92 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company’s 50-day moving average is $92.30 and its 200-day moving average is $82.24.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. Analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.63.

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.