Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 37.9% in the third quarter, HoldingsChannel reports. The firm owned 53,563 shares of the specialty retailer’s stock after selling 32,660 shares during the quarter. Penserra Capital Management LLC’s holdings in Alibaba Group were worth $5,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in Alibaba Group during the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC grew its position in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Alibaba Group in the second quarter valued at $27,000. Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Alibaba Group during the third quarter valued at about $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Mizuho increased their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Susquehanna decreased their target price 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. Loop Capital restated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Performance

Shares of BABA opened at $83.13 on Monday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company’s fifty day moving average is $98.42 and its 200-day moving average is $85.92. The firm has a market cap of $199.05 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS. Equities analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Alibaba Group 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.