Envestnet Asset Management Inc. Buys 27,058 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Envestnet Asset Management Inc. raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 348,934 shares of the specialty retailer’s stock after purchasing an additional 27,058 shares during the period. Envestnet Asset Management Inc.’s holdings in Alibaba Group were worth $25,123,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BABA. First Command Advisory Services Inc. bought a new stake in Alibaba Group during the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC grew its holdings in 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 purchasing an additional 209 shares during the period. Register Financial Advisors LLC bought a new stake in Alibaba Group during the first quarter valued at about $31,000. Asset Dedication LLC grew its holdings in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Finally, EdgeRock Capital LLC bought a new position in shares of Alibaba Group in the second quarter worth about $40,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.2 %

Shares of BABA stock opened at $88.29 on Friday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $90.46. 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’s 50 day simple moving average is $80.79 and its two-hundred day simple moving average is $77.63. The company has a market cap of $224.04 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data 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. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BABA shares. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Finally, Robert W. Baird upped their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

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.