X Square Capital LLC Sells 4,229 Shares of Alibaba Group Holding Limited (NYSE:BABA)

X Square Capital LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 59.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,881 shares of the specialty retailer’s stock after selling 4,229 shares during the quarter. X Square Capital LLC’s holdings in Alibaba Group were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BABA. International Assets Investment Management LLC raised its holdings in Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB raised its holdings in Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP raised its holdings in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after acquiring an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Alibaba Group by 523.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after acquiring an additional 1,121,500 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of recent analyst reports. Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their target price 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. Barclays boosted their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Trading Down 2.5 %

Shares of Alibaba Group stock opened at $97.96 on Thursday. The company has a market capitalization of $248.57 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a fifty day moving average of $93.46 and a 200 day moving average of $82.82. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share 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 the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

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.