Creative Planning Decreases Position in Alibaba Group Holding Limited (NYSE:BABA)

Creative Planning lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,479 shares of the specialty retailer’s stock after selling 844 shares during the quarter. Creative Planning’s holdings in Alibaba Group were worth $9,466,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. H&H International Investment LLC increased its position in shares of Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares during the period. AMF Tjanstepension AB increased its holdings in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the period. Marshall Wace LLP raised its stake in shares of Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC boosted its position in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

BABA has been the topic of several recent research reports. Susquehanna dropped their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. 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. Sanford C. Bernstein boosted their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Trading Up 6.2 %

Shares of BABA stock opened at $112.73 on Wednesday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $112.79. The firm has a market capitalization of $286.05 billion, a P/E ratio of 26.28, a PEG ratio of 0.46 and a beta of 0.33. The stock’s fifty day moving average is $84.31 and its two-hundred day moving average is $79.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 EPS. Research analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

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.