Generate Investment Management Ltd Buys Shares of 119,264 Alibaba Group Holding Limited (NYSE:BABA)

Generate Investment Management Ltd purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 119,264 shares of the specialty retailer’s stock, valued at approximately $12,656,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BABA. JTC Employer Solutions Trustee Ltd boosted its holdings in Alibaba Group by 82.5% in the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 10,986 shares of the specialty retailer’s stock valued at $1,167,000 after purchasing an additional 4,965 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at approximately $339,000. Stratos Wealth Advisors LLC lifted its holdings in Alibaba Group by 8.6% in the third quarter. Stratos Wealth Advisors LLC now owns 3,360 shares of the specialty retailer’s stock valued at $357,000 after acquiring an additional 266 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in Alibaba Group in the third quarter worth approximately $487,000. Finally, Joule Financial LLC purchased a new stake in Alibaba Group in the third quarter valued at $814,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Up 2.3 %

BABA stock opened at $102.41 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company’s 50 day moving average price is $92.30 and its 200 day moving average price is $82.17. 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 firm has a market capitalization of $259.87 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the company earned $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BABA. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.63.

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.