Fernwood Investment Management LLC Cuts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Fernwood Investment Management LLC lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,383 shares of the specialty retailer’s stock after selling 210 shares during the quarter. Fernwood Investment Management LLC’s holdings in Alibaba Group were worth $465,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group during the second quarter worth $27,000. Concord Wealth Partners increased its holdings in 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 buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the third quarter valued at $36,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BABA shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Barclays increased their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Sanford C. Bernstein lifted 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 note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.13.

Alibaba Group Stock Performance

Alibaba Group stock traded down $0.40 during mid-day trading on Friday, reaching $97.58. 8,501,018 shares of the company were exchanged, compared to its average volume of 17,709,539. The firm’s 50-day simple moving average is $95.62 and its two-hundred day simple moving average is $84.09. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The firm has a market cap of $233.70 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. Equities analysts predict 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.