Partner Fund Management L.P. reduced its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 64.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,280 shares of the specialty retailer’s stock after selling 357,506 shares during the quarter. Partner Fund Management L.P.’s holdings in Alibaba Group were worth $32,339,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BABA. Honkamp Krueger Financial Services Inc. acquired a new position in Alibaba Group during the third quarter worth $107,000. AlphaMark Advisors LLC raised its holdings in Alibaba Group by 468.8% during the third quarter. AlphaMark Advisors LLC now owns 910 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 750 shares during the last quarter. Columbia Asset Management acquired a new position in Alibaba Group during the third quarter worth $160,000. Palo Capital Inc. acquired a new position in Alibaba Group during the third quarter worth $171,000. Finally, Whitener Capital Management Inc. acquired a new position in Alibaba Group during the third quarter worth $172,000. Institutional investors own 38.68% of the company’s stock.
Several brokerages recently issued reports on BABA. Nomura reduced their price objective on Alibaba Group from $224.00 to $202.00 and set a “buy” rating for the company in a report on Monday, October 29th. KeyCorp set a $203.00 price objective on Alibaba Group and gave the stock an “overweight” rating in a report on Monday, November 5th. ValuEngine raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Monday, November 26th. UBS Group set a $245.00 price objective on Alibaba Group and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, Raymond James reduced their price objective on Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating for the company in a report on Thursday, August 16th. One investment analyst has rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Alibaba Group currently has a consensus rating of “Buy” and an average target price of $214.05.
NYSE BABA opened at $150.84 on Thursday. Alibaba Group Holding Ltd has a fifty-two week low of $130.06 and a fifty-two week high of $211.70. The firm has a market capitalization of $405.53 billion, a PE ratio of 37.43, a P/E/G ratio of 1.46 and a beta of 2.37. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.26.
Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 49.6% compared to the same quarter last year. As a group, research analysts predict that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current fiscal year.
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Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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