Peregrine Asset Advisers Inc. Acquires 300 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Peregrine Asset Advisers Inc. lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,447 shares of the specialty retailer’s stock after purchasing an additional 300 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Alibaba Group were worth $680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Command Advisory Services Inc. bought a new position in Alibaba Group in the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Register Financial Advisors LLC bought a new position in Alibaba Group in the first quarter valued at about $31,000. Asset Dedication LLC raised its holdings in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in Alibaba Group during the 2nd quarter valued at about $40,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 1.3 %

Shares of BABA stock opened at $83.61 on Tuesday. The firm’s fifty day moving average price is $80.07 and its two-hundred day moving average price is $77.28. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $212.16 billion, a P/E ratio of 19.49, a PEG ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last posted 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 for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 EPS. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the subject of a number of recent research reports. Susquehanna dropped their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $107.61.

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.