Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 207,269 shares of the specialty retailer’s stock after selling 16,011 shares during the quarter. Alibaba Group comprises approximately 4.3% of Genesis Investment Management LLP’s portfolio, making the stock its 11th biggest holding. Genesis Investment Management LLP’s holdings in Alibaba Group were worth $21,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BABA. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the second quarter valued at about $27,000. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC grew its holdings in shares of 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 acquiring an additional 209 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth approximately $31,000. Finally, Asset Dedication LLC increased its stake in Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

BABA has been the topic of several research reports. Bank of America upped their target price on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. 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 report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Susquehanna dropped their price objective 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. Finally, Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $111.12.

Alibaba Group Trading Down 2.2 %

Shares of NYSE BABA traded down $2.43 on Wednesday, reaching $107.25. 10,373,318 shares of the company traded hands, compared to its average volume of 17,750,730. The stock has a market capitalization of $272.15 billion, a PE ratio of 25.58, a P/E/G ratio of 0.46 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. 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 company has a 50 day moving average of $88.02 and a 200 day moving average of $80.45.

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 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 firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 earnings per share. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

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.