Thurston Springer Miller Herd & Titak Inc. Sells 675 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Thurston Springer Miller Herd & Titak Inc. reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 61.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 428 shares of the specialty retailer’s stock after selling 675 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Alibaba Group were worth $36,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the second quarter worth approximately $27,000. Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Alibaba Group in the third quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alibaba Group in the second quarter worth approximately $38,000. Finally, Assetmark Inc. grew its holdings in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

BABA has been the topic of several recent analyst reports. Barclays cut their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Bank of America raised their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Robert W. Baird raised their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Stock Up 3.3 %

Shares of BABA opened at $85.16 on Friday. The stock has a market capitalization of $202.93 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 0.40 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. The business’s 50 day simple moving average is $86.06 and its 200-day simple moving average is $87.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. As a group, equities analysts expect that Alibaba Group Holding Limited will post 8.44 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.