Proactive Wealth Strategies LLC Takes $213,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Proactive Wealth Strategies LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,007 shares of the specialty retailer’s stock, valued at approximately $213,000.

A number of other hedge funds have also added to or reduced their stakes in BABA. Primecap Management Co. CA boosted its holdings in shares of Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake 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 acquiring an additional 5,715,155 shares during the last quarter. Discerene Group LP grew its position in shares of Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after acquiring an additional 529,237 shares during the period. AMF Tjanstepension AB raised its holdings 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. Finally, Eminence Capital LP lifted its position in 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 purchasing an additional 150,488 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

BABA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.53.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $91.78 on Wednesday. The firm has a fifty day simple moving average of $97.49 and a two-hundred day simple moving average of $85.28. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $219.81 billion, a P/E ratio of 24.03, a PEG ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released 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. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 earnings per share. On average, analysts expect 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.