D.B. Root & Company LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

D.B. Root & Company LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,120 shares of the specialty retailer’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently bought and sold shares of the business. 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 increased its holdings in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the second quarter valued at about $27,000. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have 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 report on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Barclays upped their price objective on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.13.

Alibaba Group Stock Up 3.5 %

NYSE BABA opened at $100.16 on Friday. The business has a fifty day moving average price of $96.65 and a two-hundred day moving average price of $84.70. The stock has a market capitalization of $239.87 billion, a PE ratio of 26.22, a PEG ratio of 0.46 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.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the firm posted $2.47 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal 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.