Fred Alger Management LLC Takes $2.45 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Fred Alger Management LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 23,083 shares of the specialty retailer’s stock, valued at approximately $2,450,000.

A number of other large investors have also recently added to or reduced their stakes in the business. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners increased its position in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group in the third quarter worth $36,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Performance

Shares of BABA stock opened at $87.37 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a market cap of $209.05 billion, a PE ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. The company’s fifty day simple moving average is $98.45 and its 200-day simple moving average is $86.11. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $239.45 billion. During the same period last year, the company posted $1.82 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current 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.