3,006 Shares in Alibaba Group Holding Limited (NYSE:BABA) Bought by Howard Financial Services LTD.

Howard Financial Services LTD. bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,006 shares of the specialty retailer’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiduciary Alliance LLC boosted its holdings in Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after purchasing an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the last quarter. SRN Advisors LLC grew 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 acquiring an additional 9,663 shares in the last quarter. ORG Partners LLC increased its position in shares of Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after acquiring an additional 11,064 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial lowered their target price 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. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday. Finally, Robert W. Baird raised their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.12.

Alibaba Group Price Performance

Shares of BABA opened at $105.97 on Wednesday. The business has a 50-day simple moving average of $88.02 and a two-hundred day simple moving average of $80.45. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The stock has a market cap of $268.90 billion, a PE ratio of 25.58, a PEG ratio of 0.46 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the business earned $2.47 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Alibaba Group Holding Limited will post 7.93 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.