Sompo Asset Management Co. Ltd. Has $261,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sompo Asset Management Co. Ltd. lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 74.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,630 shares of the specialty retailer’s stock after selling 10,770 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Alibaba Group were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Command Advisory Services Inc. purchased a new position in Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC increased its position in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth about $31,000. Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 400 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of Alibaba Group in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.2 %

Shares of Alibaba Group stock opened at $88.29 on Friday. The company has a market cap of $224.04 billion, a price-to-earnings ratio of 20.58, a PEG 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 company’s fifty day simple moving average is $80.79 and its 200-day simple moving average is $77.63. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the business posted $2.47 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Susquehanna reduced their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Sanford C. Bernstein increased 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 report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Truist Financial lowered their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.