Alibaba Group (NYSE:BABA) Shares Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Alibaba Group Holding Limited (NYSE:BABA). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Alibaba Group stock on October 16th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Alibaba Group Stock Performance

Shares of BABA stock opened at $94.18 on Friday. 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 $225.56 billion, a PE ratio of 24.65, a P/E/G ratio of 0.46 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. The company’s fifty day simple moving average is $97.25 and its 200-day simple moving average is $84.97.

Alibaba Group (NYSE:BABA) last posted its earnings results 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 business had revenue of $243.24 billion during 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 company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.08 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BABA shares. JPMorgan Chase & Co. upped their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Sanford C. Bernstein raised their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Bank of America boosted their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cypress Capital Group boosted its stake in Alibaba Group by 1.2% in the third quarter. Cypress Capital Group now owns 34,625 shares of the specialty retailer’s stock valued at $3,674,000 after acquiring an additional 411 shares during the period. JW Asset Management LLC acquired a new position in Alibaba Group during the 3rd quarter valued at approximately $1,592,000. Advisors Asset Management Inc. grew its stake in Alibaba Group by 16.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,338 shares of the specialty retailer’s stock worth $460,000 after buying an additional 614 shares during the last quarter. Gemsstock Ltd. acquired a new stake in Alibaba Group in the third quarter worth $16,746,000. Finally, West Family Investments Inc. lifted its stake in Alibaba Group by 22.5% in the third quarter. West Family Investments Inc. now owns 5,451 shares of the specialty retailer’s stock valued at $578,000 after buying an additional 1,000 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.