Profund Advisors LLC Sells 7,334 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Profund Advisors LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,847 shares of the specialty retailer’s stock after selling 7,334 shares during the quarter. Profund Advisors LLC’s holdings in Alibaba Group were worth $6,397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. ICA Group Wealth Management LLC lifted its position in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 142 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 154 shares in the last quarter. Finally, EPIQ Capital Group LLC lifted its position in shares of Alibaba Group by 0.3% in the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE:BABA opened at $88.29 on Friday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $90.46. The company has a market cap of $224.04 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.43 and a beta of 0.33. The firm’s fifty day moving average price is $80.79 and its two-hundred day moving average price is $77.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. 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 company posted $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial cut their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Bank of America upped their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Three 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 presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

About Alibaba Group

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.