Ignite Planners LLC Purchases 206 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Ignite Planners LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,597 shares of the specialty retailer’s stock after buying an additional 206 shares during the quarter. Ignite Planners LLC’s holdings in Alibaba Group were worth $594,000 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. Primecap Management Co. CA increased its holdings in Alibaba Group by 5.2% during the second 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 last quarter. FIL Ltd raised its stake in Alibaba Group by 10.2% during the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares in the last quarter. H&H International Investment LLC raised its stake in Alibaba Group by 63.1% during the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares in the last quarter. ARGA Investment Management LP increased its stake in shares of Alibaba Group by 39.2% in the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after buying an additional 1,009,397 shares during the period. Finally, Discerene Group LP increased its stake in shares of Alibaba Group by 21.2% in the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $109.73 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $278.44 billion, a PE ratio of 25.58, a P/E/G ratio of 0.46 and a beta of 0.35. The business has a 50 day moving average of $87.38 and a 200 day moving average of $80.18. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly 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 earnings per share. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BABA. Truist Financial decreased their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Bank of America raised their target price on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.12.

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.