Confluence Investment Management LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Confluence Investment Management LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,013 shares of the specialty retailer’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BABA. Concord Wealth Partners grew its holdings in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group during the second quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in Alibaba Group during the third quarter worth approximately $36,000. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the second quarter valued at $25,000. Finally, GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 5.9 %

BABA opened at $94.19 on Friday. The company has a market capitalization of $225.58 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The business has a 50-day moving average of $97.25 and a 200-day moving average of $84.97. 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 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its earnings results 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 firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the topic of a number of recent analyst reports. Susquehanna cut their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Barclays boosted their price objective on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $113.13.

Alibaba Group Company 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.