Parallel Advisors LLC Cuts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Parallel Advisors LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,311 shares of the specialty retailer’s stock after selling 398 shares during the period. Parallel Advisors LLC’s holdings in Alibaba Group were worth $598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in Alibaba Group by 16.0% during the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock valued at $1,068,000 after acquiring an additional 1,899 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Alibaba Group in the 4th quarter valued at about $1,651,000. Panagora Asset Management Inc. boosted its position in shares of Alibaba Group by 5.6% during the 4th quarter. Panagora Asset Management Inc. now owns 42,689 shares of the specialty retailer’s stock valued at $3,309,000 after acquiring an additional 2,271 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Alibaba Group by 7.4% in the fourth quarter. Level Four Advisory Services LLC now owns 3,726 shares of the specialty retailer’s stock worth $289,000 after purchasing an additional 258 shares during the last quarter. Finally, Norges Bank purchased a new stake in Alibaba Group in the fourth quarter valued at approximately $329,367,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of BABA opened at $83.61 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market cap of $212.16 billion, a PE ratio of 19.49, a P/E/G ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $90.46. The firm has a fifty day simple moving average of $80.07 and a two-hundred day simple moving average of $77.28.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 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 analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

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.