Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,040 shares of the specialty retailer’s stock after selling 600 shares during the quarter. Highland Capital Management LLC’s holdings in Alibaba Group were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC grew its position 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 period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the second quarter valued at about $27,000. Asset Dedication LLC boosted its position in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 400 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Alibaba Group during the second quarter worth about $38,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BABA. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Finally, Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Trading Up 1.1 %

NYSE BABA opened at $97.42 on Monday. The firm has a 50 day moving average of $94.08 and a two-hundred day moving average of $83.22. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $247.20 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued 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. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Alibaba Group 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.