Cerity Partners LLC Lowers Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Cerity Partners LLC trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 7.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 435,571 shares of the specialty retailer’s stock after selling 37,537 shares during the period. Cerity Partners LLC’s holdings in Alibaba Group were worth $46,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BABA. Assenagon Asset Management S.A. boosted its position 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 worth $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after purchasing an additional 1,679,117 shares in the last quarter. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% during the 2nd 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 in the last quarter. Marshall Wace LLP boosted its position in shares of 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 purchasing an additional 1,130,643 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein boosted 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. Robert W. Baird boosted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Bank of America boosted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Down 2.9 %

Shares of BABA stock opened at $83.13 on Friday. The firm has a 50-day moving average price of $98.42 and a 200 day moving average price of $85.87. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The company has a market capitalization of $199.05 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.42 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16.

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

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.