Clear Creek Financial Management LLC Takes $259,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Clear Creek Financial Management LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,438 shares of the specialty retailer’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Concord Wealth Partners raised 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 purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group during the second quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group in the 3rd quarter valued at about $36,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at about $25,000. Finally, GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.8 %

Shares of BABA opened at $98.40 on Tuesday. The firm’s 50-day moving average is $95.95 and its two-hundred day moving average is $84.41. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $235.67 billion, a P/E ratio of 25.76, a PEG ratio of 0.46 and a beta of 0.36.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $2.47 EPS. On average, research analysts predict that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Bank of America lifted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.13.

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.