Highland Capital Management LLC Cuts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Highland Capital Management LLC lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,040 shares of the specialty retailer’s stock after selling 600 shares during the quarter. Highland Capital Management LLC’s holdings in Alibaba Group were worth $535,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BABA. Wealth Enhancement Advisory Services LLC raised its position in Alibaba Group by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock worth $1,548,000 after buying an additional 241 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Alibaba Group by 4.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 10,817 shares of the specialty retailer’s stock valued at $783,000 after purchasing an additional 507 shares in the last quarter. Naviter Wealth LLC increased its holdings in shares of Alibaba Group by 55.2% in the 1st quarter. Naviter Wealth LLC now owns 41,068 shares of the specialty retailer’s stock valued at $2,972,000 after purchasing an additional 14,608 shares in the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Alibaba Group by 9.9% in the 1st quarter. Evolution Wealth Advisors LLC now owns 3,846 shares of the specialty retailer’s stock valued at $278,000 after purchasing an additional 345 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd increased its holdings in shares of Alibaba Group by 20.5% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 4,014 shares of the specialty retailer’s stock valued at $287,000 after purchasing an additional 682 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. 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. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Finally, Bank of America increased their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Alibaba Group Trading Up 1.1 %

Shares of BABA stock opened at $97.42 on Monday. The firm has a market cap of $247.20 billion, a P/E ratio of 22.71, a PEG ratio of 0.55 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. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s 50-day simple moving average is $94.08 and its 200-day simple moving average is $83.22.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current 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.