Aigen Investment Management LP Invests $1.74 Million in Alibaba Group Holding Limited (NYSE:BABA)

Aigen Investment Management LP bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,373 shares of the specialty retailer’s stock, valued at approximately $1,738,000.

A number of other institutional investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% during the second 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 period. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the second quarter worth about $27,000. Concord Wealth Partners increased its position in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Alibaba Group stock traded down $2.58 during midday trading on Tuesday, reaching $92.84. The company’s stock had a trading volume of 4,256,150 shares, compared to its average volume of 17,580,512. The stock has a market cap of $222.35 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The business has a 50-day moving average price of $97.49 and a 200-day moving average price of $85.28.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Analysts Set New Price Targets

BABA has been the subject of several research analyst reports. Robert W. Baird lifted their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Mizuho increased their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Bank of America boosted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two equities research 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 $114.53.

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.