Madrona Financial Services LLC Makes New $217,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Madrona Financial Services LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,047 shares of the specialty retailer’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Secure Asset Management LLC bought a new stake in Alibaba Group during the third quarter worth $218,000. Bleakley Financial Group LLC lifted its stake in Alibaba Group by 6.5% in the third quarter. Bleakley Financial Group LLC now owns 11,056 shares of the specialty retailer’s stock valued at $1,173,000 after acquiring an additional 673 shares during the last quarter. Riversedge Advisors LLC acquired a new stake in Alibaba Group in the third quarter valued at $201,000. Global Retirement Partners LLC lifted its stake in Alibaba Group by 66.6% in the third quarter. Global Retirement Partners LLC now owns 3,978 shares of the specialty retailer’s stock valued at $422,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Naviter Wealth LLC lifted its stake in Alibaba Group by 2.1% in the third quarter. Naviter Wealth LLC now owns 47,259 shares of the specialty retailer’s stock valued at $5,015,000 after acquiring an additional 959 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

NYSE:BABA opened at $100.06 on Friday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The firm has a market cap of $253.90 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 0.55 and a beta of 0.35. The firm’s 50-day simple moving average is $91.85 and its 200 day simple moving average is $81.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BABA. 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. Robert W. Baird increased their price target 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. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Barclays raised their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.63.

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.