Balboa Wealth Partners Has $841,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Balboa Wealth Partners cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,925 shares of the specialty retailer’s stock after selling 1,937 shares during the quarter. Balboa Wealth Partners’ holdings in Alibaba Group were worth $841,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the period. Generate Investment Management Ltd bought a new position in Alibaba Group in the third quarter valued at approximately $12,656,000. SRN Advisors LLC grew its holdings in Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 9,663 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after acquiring an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 1.6 %

NYSE:BABA opened at $90.54 on Friday. The stock has a 50-day simple moving average of $97.87 and a 200 day simple moving average of $85.44. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a market cap of $216.79 billion, a PE ratio of 23.70, a PEG ratio of 0.41 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 posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on BABA shares. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Bank of America upped their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.