Farmer Steven Patrick Buys New Position in Alibaba Group Holding Limited (NYSE:BABA)

Farmer Steven Patrick bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABAGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,044 shares of the specialty retailer’s stock, valued at approximately $232,000.

Several other hedge funds also recently added to or reduced their stakes in BABA. Principal Financial Group Inc. grew its stake in Alibaba Group by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 2,887 shares of the specialty retailer’s stock valued at $343,000 after purchasing an additional 296 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Alibaba Group in the fourth quarter worth about $7,157,000. Sequoia Financial Advisors LLC boosted its stake in shares of Alibaba Group by 113.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,599 shares of the specialty retailer’s stock worth $784,000 after buying an additional 3,501 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alibaba Group by 40.7% in the fourth quarter. Geode Capital Management LLC now owns 921,377 shares of the specialty retailer’s stock worth $109,588,000 after buying an additional 266,618 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Alibaba Group by 1.1% in the fourth quarter. Alberta Investment Management Corp now owns 1,959,000 shares of the specialty retailer’s stock worth $232,710,000 after buying an additional 21,468 shares during the last quarter. 14.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird reduced their target price on Alibaba Group from $160.00 to $144.00 and set an “outperform” rating for the company in a report on Monday, May 23rd. Truist Financial raised their price target on Alibaba Group from $132.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $130.00 in a report on Tuesday, July 19th. Benchmark boosted their price target on Alibaba Group from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 6th. Finally, Bank of America lowered their price objective on Alibaba Group from $162.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.53.

Alibaba Group Stock Down 2.7 %

BABA stock opened at $86.43 on Friday. Alibaba Group Holding Limited has a 12-month low of $73.28 and a 12-month high of $182.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.13. The company has a market cap of $228.88 billion, a price-to-earnings ratio of 48.02, a PEG ratio of 1.50 and a beta of 0.55. The company has a 50 day moving average of $95.58 and a two-hundred day moving average of $98.94.

Alibaba Group (NYSE:BABAGet Rating) last released its earnings results on Thursday, August 4th. The specialty retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.57. Alibaba Group had a net margin of 3.69% and a return on equity of 10.03%. The company had revenue of $30.69 billion during the quarter, compared to the consensus estimate of $31.15 billion. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 6.32 earnings per share for the current fiscal year.

Alibaba Group Company Profile

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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.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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