Mutual Advisors LLC Purchases 7,214 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Mutual Advisors LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 125.3% in the third quarter, HoldingsChannel reports. The firm owned 12,970 shares of the specialty retailer’s stock after acquiring an additional 7,214 shares during the period. Mutual Advisors LLC’s holdings in Alibaba Group were worth $1,376,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BABA. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after acquiring an additional 139,134 shares in the last quarter. Generate Investment Management Ltd purchased a new position in Alibaba Group during the 3rd quarter valued at about $12,656,000. SRN Advisors LLC raised its holdings in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. ORG Partners LLC lifted its position in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after purchasing an additional 11,064 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 0.4 %

NYSE:BABA opened at $97.57 on Friday. 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 fifty day simple moving average of $95.62 and a 200-day simple moving average of $83.99. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a market capitalization of $233.67 billion, a P/E ratio of 25.54, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Truist Financial decreased their price objective 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 reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Barclays increased their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, 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 research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $113.13.

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.