Evergreen Capital Management LLC Purchases 72,700 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Evergreen Capital Management LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 1,351.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,081 shares of the specialty retailer’s stock after purchasing an additional 72,700 shares during the period. Evergreen Capital Management LLC’s holdings in Alibaba Group were worth $5,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BABA. Principal Financial Group Inc. bought a new stake in shares of Alibaba Group during the fourth quarter valued at approximately $1,651,000. Assetmark Inc. raised its stake in Alibaba Group by 15.6% in the fourth quarter. Assetmark Inc. now owns 3,254 shares of the specialty retailer’s stock worth $252,000 after buying an additional 438 shares in the last quarter. SageView Advisory Group LLC raised its stake in Alibaba Group by 135.3% in the fourth quarter. SageView Advisory Group LLC now owns 7,536 shares of the specialty retailer’s stock worth $545,000 after buying an additional 4,333 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in Alibaba Group by 23.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,797 shares of the specialty retailer’s stock worth $139,000 after buying an additional 336 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Alibaba Group by 214.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 726,148 shares of the specialty retailer’s stock worth $56,284,000 after buying an additional 495,518 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Truist Financial reduced their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Bank of America lifted their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Price Performance

NYSE:BABA opened at $90.08 on Tuesday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $91.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $228.58 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.43 and a beta of 0.33. The firm’s fifty day moving average is $81.03 and its two-hundred day moving average is $77.78.

Alibaba Group (NYSE:BABA) last posted 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 company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

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.