City State Bank Sells 4,139 Shares of Alibaba Group Holding Limited (NYSE:BABA)

by · The Markets Daily

City State Bank lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 35.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,422 shares of the specialty retailer’s stock after selling 4,139 shares during the period. City State Bank’s holdings in Alibaba Group were worth $788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. AMF Tjanstepension AB lifted its stake in Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its position in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after acquiring an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC lifted its position in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares during the period. Finally, ARGA Investment Management LP grew its holdings in shares of Alibaba Group by 39.2% in the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after purchasing an additional 1,009,397 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 0.8 %

Shares of NYSE:BABA opened at $110.14 on Friday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The stock’s fifty day moving average price is $89.88 and its 200-day moving average price is $81.18. The company has a market cap of $279.48 billion, a P/E ratio of 25.67, a PEG ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

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

Analyst Ratings Changes

BABA has been the subject of several analyst reports. Susquehanna dropped their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Robert W. Baird upped their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $110.75.

Get Our Latest Research Report on BABA

Alibaba Group Company Profile

(Free Report)

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.

See Also

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