BluePointe Capital Management LLC Buys Shares of 1,981 Alibaba Group Holding Limited (NYSE:BABA)

BluePointe Capital Management LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,981 shares of the specialty retailer’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BABA. Dearborn Partners LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at approximately $226,000. Intellectus Partners LLC grew its holdings in shares of Alibaba Group by 7.8% during the 3rd quarter. Intellectus Partners LLC now owns 27,704 shares of the specialty retailer’s stock worth $2,940,000 after purchasing an additional 1,997 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of Alibaba Group by 49.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 11,689 shares of the specialty retailer’s stock worth $1,240,000 after purchasing an additional 3,885 shares during the last quarter. Endowment Wealth Management Inc. purchased a new stake in Alibaba Group in the 3rd quarter valued at about $309,000. Finally, Regal Partners Ltd acquired a new position in Alibaba Group in the third quarter valued at about $1,914,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, StockNews.com cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $90.54 on Friday. The firm has a market capitalization of $216.79 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock’s 50-day simple moving average is $97.87 and its 200-day simple moving average is $85.44.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm 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%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

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.