Canopy Partners LLC Purchases Shares of 1,905 Alibaba Group Holding Limited (NYSE:BABA)

Canopy Partners LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, Holdings Channel.com reports. The firm acquired 1,905 shares of the specialty retailer’s stock, valued at approximately $202,000.

Several other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA grew its position in 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 acquiring an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Alibaba Group by 1,392.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the last quarter. AMF Tjanstepension AB raised its position in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after purchasing an additional 178,999 shares during the period. Eminence Capital LP grew its stake in shares of Alibaba Group by 9.0% during the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after buying an additional 150,488 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 2.8 %

Shares of BABA opened at $83.19 on Friday. 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 debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.37. The company’s fifty day moving average is $98.42 and its 200 day moving average is $85.83. The stock has a market capitalization of $199.19 billion, a PE ratio of 16.87, a P/E/G ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. Alibaba Group’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Barclays dropped their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. Sanford C. Bernstein increased their price target 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. Finally, Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

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.