Alibaba Group Holding Limited (NYSE:BABA) Holdings Lessened by ARGA Investment Management LP

ARGA Investment Management LP cut its position in Alibaba Group Holding Limited (NYSE:BABA) by 67.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,287,882 shares of the specialty retailer’s stock after selling 2,623,450 shares during the quarter. Alibaba Group accounts for 4.5% of ARGA Investment Management LP’s portfolio, making the stock its 9th largest position. ARGA Investment Management LP owned 0.05% of Alibaba Group worth $136,670,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group in the 2nd quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC increased its stake 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 worth $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group in the second quarter worth $27,000. Concord Wealth Partners raised 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 acquiring an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new position in Alibaba Group during the 3rd quarter valued at $36,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Up 0.9 %

Shares of NYSE:BABA opened at $87.37 on Friday. The company’s 50-day moving average price is $98.45 and its 200 day moving average price is $86.08. The company has a market cap of $209.05 billion, a PE ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BABA. Barclays cut their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Mizuho boosted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.07.

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.