Erste Asset Management GmbH Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Erste Asset Management GmbH purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 88,819 shares of the specialty retailer’s stock, valued at approximately $9,496,000.

Several other large investors also recently modified their holdings of BABA. TRUE Private Wealth Advisors boosted its position in Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 112 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC boosted its holdings in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after buying an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, October 7th. Barclays decreased their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Up 0.9 %

BABA stock opened at $87.37 on Monday. The firm has a fifty day moving average price of $98.45 and a 200 day moving average price of $86.11. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm has a market cap of $209.05 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last released 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. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same quarter last year, the business posted $1.82 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share 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.