Commerce Bank Sells 653 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Commerce Bank trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 15.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,451 shares of the specialty retailer’s stock after selling 653 shares during the quarter. Commerce Bank’s holdings in Alibaba Group were worth $366,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC grew its stake in Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC increased its stake in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after purchasing an additional 143 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Sanford C. Bernstein raised their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Trading Down 0.5 %

NYSE:BABA opened at $85.18 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The firm’s fifty day moving average is $98.47 and its 200-day moving average is $86.00. The firm has a market cap of $203.95 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

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

Alibaba Group Profile

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.