Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by State Street Corp

State Street Corp reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 531,933 shares of the specialty retailer’s stock after selling 1,840 shares during the period. State Street Corp’s holdings in Alibaba Group were worth $56,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Raymond James & Associates lifted its holdings in shares of Alibaba Group by 5.4% in the 2nd quarter. Raymond James & Associates now owns 394,746 shares of the specialty retailer’s stock valued at $28,422,000 after buying an additional 20,288 shares during the period. Nisa Investment Advisors LLC acquired a new position in Alibaba Group in the second quarter valued at approximately $70,000. &PARTNERS boosted its position in Alibaba Group by 81.7% in the 2nd quarter. &PARTNERS now owns 7,030 shares of the specialty retailer’s stock worth $506,000 after purchasing an additional 3,160 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Alibaba Group during the 2nd quarter worth approximately $40,000. Finally, Cypress Capital Group increased its holdings in shares of Alibaba Group by 37.7% during the 2nd quarter. Cypress Capital Group now owns 34,214 shares of the specialty retailer’s stock valued at $2,463,000 after purchasing an additional 9,360 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 2.5 %

Shares of Alibaba Group stock opened at $85.00 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $93.28 and its 200-day simple moving average is $86.49. The stock has a market cap of $203.13 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.44 and a beta of 0.30. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the business earned $1.82 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on BABA shares. Robert W. Baird raised their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho lifted their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Two equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

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.