BluePointe Capital Management LLC Purchases New Shares in Alibaba Group Holding Limited (NYSE:BABA)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Alibaba Group by 8.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock worth $599,000 after buying an additional 632 shares during the last quarter. US Bancorp DE increased its holdings in shares of Alibaba Group by 12.2% in the first quarter. US Bancorp DE now owns 30,414 shares of the specialty retailer’s stock valued at $2,201,000 after purchasing an additional 3,305 shares during the period. Blair William & Co. IL raised its stake in shares of Alibaba Group by 1.5% during the first quarter. Blair William & Co. IL now owns 87,022 shares of the specialty retailer’s stock worth $6,297,000 after purchasing an additional 1,269 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Alibaba Group by 53.2% during the first quarter. Orion Portfolio Solutions LLC now owns 28,517 shares of the specialty retailer’s stock worth $2,063,000 after purchasing an additional 9,899 shares during the period. Finally, Banco Santander S.A. grew its position in Alibaba Group by 43.2% in the 1st quarter. Banco Santander S.A. now owns 154,504 shares of the specialty retailer’s stock valued at $11,180,000 after buying an additional 46,646 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Mizuho raised their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial lowered 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. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Price Performance

BABA stock opened at $90.54 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50 day moving average price is $97.87 and its 200 day moving average price is $85.44. The firm has a market cap of $216.79 billion, a P/E ratio of 23.70, a PEG ratio of 0.41 and a beta of 0.35. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Alibaba Group Company 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.