Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,114 shares of the specialty retailer’s stock after selling 967 shares during the quarter. Lazari Capital Management Inc.’s holdings in Alibaba Group were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its stake in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the period. Discerene Group LP lifted its position in Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after acquiring an additional 529,237 shares during the period. AMF Tjanstepension AB grew its stake in Alibaba Group by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Eminence Capital LP increased its holdings in shares of Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after purchasing an additional 150,488 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Alibaba Group by 0.7% in the second quarter. American Century Companies Inc. now owns 1,551,134 shares of the specialty retailer’s stock worth $111,682,000 after purchasing an additional 11,487 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock 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 research report on Friday, July 26th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $112.63.

Alibaba Group Trading Down 0.5 %

BABA stock opened at $100.42 on Wednesday. The business’s 50-day moving average is $93.09 and its 200 day moving average is $82.71. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The stock has a market cap of $254.82 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.55 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 (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm 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%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 earnings per share. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

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.