Cowa LLC Buys Shares of 3,069 Alibaba Group Holding Limited (NYSE:BABA)

Cowa LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,069 shares of the specialty retailer’s stock, valued at approximately $326,000.

Several other hedge funds have also recently made changes to their positions in BABA. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group during the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC raised its stake 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 valued at $26,000 after purchasing an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners raised its stake in shares of Alibaba Group by 155.0% during the 3rd 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 period. Finally, Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the 3rd quarter valued at $36,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BABA shares. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Loop Capital restated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.13.

Alibaba Group Trading Down 6.0 %

Shares of BABA stock opened at $94.18 on Friday. The stock has a market capitalization of $225.56 billion, a PE ratio of 24.65, a P/E/G ratio of 0.46 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 business has a 50-day moving average of $97.25 and a 200 day moving average of $84.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued 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. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current 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.