Accent Capital Management LLC Sells 1,500 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Accent Capital Management LLC lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the specialty retailer’s stock after selling 1,500 shares during the quarter. Accent Capital Management LLC’s holdings in Alibaba Group were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BABA. Adero Partners LLC raised its position in Alibaba Group by 1.2% during the third quarter. Adero Partners LLC now owns 42,908 shares of the specialty retailer’s stock valued at $4,553,000 after purchasing an additional 491 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at $221,000. Central Asset Investments & Management Holdings HK Ltd grew its stake in Alibaba Group by 1,972.8% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 94,457 shares of the specialty retailer’s stock worth $10,024,000 after acquiring an additional 89,900 shares in the last quarter. BluePointe Capital Management LLC bought a new position in Alibaba Group in the third quarter worth approximately $210,000. Finally, Dearborn Partners LLC purchased a new position in shares of Alibaba Group during the third quarter valued at $226,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Down 2.2 %

Shares of BABA stock opened at $88.59 on Friday. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The stock has a market cap of $212.12 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35. The stock has a 50 day moving average of $98.18 and a 200 day moving average of $85.63. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its earnings results 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. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Wall Street Analyst Weigh In

BABA has been the topic of a number of analyst reports. Bank of America lifted their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.