Oppenheimer & Co. Inc. Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Oppenheimer & Co. Inc. reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 17.8% in the 3rd quarter, Holdings Channel reports. The firm owned 75,792 shares of the specialty retailer’s stock after selling 16,452 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Alibaba Group were worth $8,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. CANADA LIFE ASSURANCE Co lifted its stake in shares of Alibaba Group by 462.5% in 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 in the last quarter. Generate Investment Management Ltd acquired a new stake in Alibaba Group in the 3rd quarter valued at about $12,656,000. SRN Advisors LLC lifted its stake 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 in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position 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 purchasing an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.2 %

NYSE:BABA opened at $91.99 on Thursday. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $97.68 and its two-hundred day moving average is $85.39. The stock has a market capitalization of $220.31 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. Research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BABA. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays lifted their price target on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target 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. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.53.

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.