Aigen Investment Management LP Takes $1.74 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Aigen Investment Management LP acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 16,373 shares of the specialty retailer’s stock, valued at approximately $1,738,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. Concord Wealth Partners raised its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group in the 2nd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group during the third quarter worth about $36,000. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $25,000. Finally, GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% during 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 period. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent research reports. Barclays upped their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Truist Financial lowered 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. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Robert W. Baird raised their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Price Performance

NYSE BABA traded down $2.58 during trading on Tuesday, reaching $92.84. The company’s stock had a trading volume of 4,256,150 shares, compared to its average volume of 17,580,512. The stock has a market capitalization of $222.35 billion, a PE ratio of 24.98, a P/E/G ratio of 0.42 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. The firm has a fifty day moving average of $97.49 and a 200 day moving average of $85.28. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last announced its 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. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.47 earnings per share. Analysts expect that Alibaba Group Holding Limited will post 8.51 EPS 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.