Brighton Jones LLC Purchases New Position in Alibaba Group Holding Limited (NYSE:BABA)

Brighton Jones LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, HoldingsChannel reports. The institutional investor acquired 2,430 shares of the specialty retailer’s stock, valued at approximately $258,000.

Several other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Alibaba Group by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock worth $1,548,000 after buying an additional 241 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Alibaba Group during the first quarter worth approximately $31,000. Foguth Wealth Management LLC. acquired a new position in shares of Alibaba Group in the 1st quarter valued at $256,000. Wolff Wiese Magana LLC boosted its stake in Alibaba Group by 69.2% during the 1st quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the specialty retailer’s stock worth $80,000 after purchasing an additional 450 shares during the period. Finally, Hi Line Capital Management LLC grew its position in Alibaba Group by 1.4% during the 1st quarter. Hi Line Capital Management LLC now owns 79,970 shares of the specialty retailer’s stock worth $5,787,000 after purchasing an additional 1,096 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $97.42 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $247.20 billion, a PE ratio of 22.71, a P/E/G ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The stock has a fifty day moving average price of $94.08 and a 200 day moving average price of $83.16.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share 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 firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period last year, the firm posted $2.47 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BABA. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, Loop Capital reissued a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.