Summit Place Financial Advisors LLC Has $480,000 Stake in Alibaba Group Holding Limited (NYSE:BABA)

Summit Place Financial Advisors LLC reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 44.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,525 shares of the specialty retailer’s stock after selling 3,650 shares during the period. Summit Place Financial Advisors LLC’s holdings in Alibaba Group were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Alibaba Group by 462.5% during the first 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. Generate Investment Management Ltd bought a new stake in Alibaba Group in the 3rd quarter valued at $12,656,000. SRN Advisors LLC grew its position in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares during the last quarter. ORG Partners LLC raised its position in shares of Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after buying an additional 11,064 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after buying an additional 50,000 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 1.6 %

NYSE:BABA opened at $98.96 on Monday. The firm has a market capitalization of $251.11 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.55 and a beta of 0.35. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The business’s 50-day moving average price is $94.08 and its two-hundred day moving average price is $83.22. The company has a current ratio of 1.41, a quick 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. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 earnings per share. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BABA shares. JPMorgan Chase & Co. upped their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna decreased their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. 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 report on Wednesday, October 9th. Finally, Barclays increased their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.