5,271 Shares in Alibaba Group Holding Limited $BABA Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, Holdings Channel reports. The institutional investor purchased 5,271 shares of the specialty retailer’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hoey Investments Inc. lifted its holdings in Alibaba Group by 95.2% during the first quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of Alibaba Group in the second quarter valued at about $28,000. GK Wealth Management LLC purchased a new stake in shares of Alibaba Group during the third quarter worth about $32,000. Latitude Advisors LLC purchased a new stake in shares of Alibaba Group during the third quarter worth about $43,000. Finally, Global Assets Advisory LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Insider Buying and Selling

In other Alibaba Group news, CEO Yongming Wu bought 350,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $14.24 per share, with a total value of $4,984,000.00. Following the purchase, the chief executive officer directly owned 1,364,418 shares of the company’s stock, valued at $19,429,312.32. This trade represents a 34.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph C. Tsai bought 720,000 shares of the stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $14.29 per share, for a total transaction of $10,288,800.00. Following the completion of the acquisition, the director owned 114,979,168 shares in the company, valued at approximately $1,643,052,310.72. The trade was a 0.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 999,971 shares of company stock worth $13,563,304 in the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $98.08 on Friday. The firm has a 50-day simple moving average of $109.66 and a 200-day simple moving average of $126.60. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $244.00 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.47. Alibaba Group Holding Limited has a 52 week low of $91.99 and a 52 week high of $181.10.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, August 14th. The specialty retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.68). The business had revenue of $39.64 billion for the quarter, compared to analyst estimates of $39.52 billion. Alibaba Group had a return on equity of 4.79% and a net margin of 7.00%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $14.75 earnings per share. On average, equities analysts predict that Alibaba Group Holding Limited will post 5.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BABA. Piper Sandler lowered shares of Alibaba Group to a “hold” rating in a research note on Thursday, October 8th. Susquehanna lifted their price objective on Alibaba Group from $185.00 to $190.00 and gave the stock a “positive” rating in a report on Friday, August 28th. Benchmark reiterated a “buy” rating on shares of Alibaba Group in a research note on Thursday, August 20th. Jefferies Financial Group reissued a “buy” rating and set a $192.00 target price on shares of Alibaba Group in a report on Thursday, October 8th. Finally, Weiss Ratings raised Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.89.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.