Baker Avenue Asset Management LP Sells 860 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Baker Avenue Asset Management LP lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,740 shares of the specialty retailer’s stock after selling 860 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Alibaba Group were worth $12,495,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Concord Wealth Partners lifted its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group during the third quarter worth $36,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at $25,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Alibaba Group by 139.3% during the 2nd 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. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA traded down $5.95 on Friday, reaching $94.19. 24,879,795 shares of the company traded hands, compared to its average volume of 15,538,736. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $225.58 billion, a PE ratio of 24.66, a P/E/G ratio of 0.43 and a beta of 0.35. The company’s 50 day moving average is $97.25 and its 200-day moving average is $84.97.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during 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 quarter in the prior year, the firm earned $2.47 EPS. As a group, analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BABA shares. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Macquarie upgraded 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. Susquehanna dropped their price target on 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 issued a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Robert W. Baird raised their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.13.

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.