Commerce Bank Sells 653 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Commerce Bank lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 15.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,451 shares of the specialty retailer’s stock after selling 653 shares during the period. Commerce Bank’s holdings in Alibaba Group were worth $366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. lifted its position in Alibaba Group by 17.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock valued at $245,000 after purchasing an additional 506 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Alibaba Group by 46.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,946 shares of the specialty retailer’s stock worth $1,660,000 after buying an additional 7,307 shares during the period. iA Global Asset Management Inc. grew its position in shares of Alibaba Group by 27.5% in the 1st quarter. iA Global Asset Management Inc. now owns 62,125 shares of the specialty retailer’s stock valued at $4,495,000 after purchasing an additional 13,394 shares during the period. Virtu Financial LLC increased its position in shares of Alibaba Group by 19.7% during the first quarter. Virtu Financial LLC now owns 59,195 shares of the specialty retailer’s stock worth $4,283,000 after acquiring an additional 9,730 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $175,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 0.5 %

BABA stock opened at $85.18 on Wednesday. The business’s 50 day simple moving average is $98.47 and its 200 day simple moving average is $86.00. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The firm has a market capitalization of $203.95 billion, a PE ratio of 17.28, a PEG ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of research reports. Susquehanna lowered their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Mizuho boosted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Bank of America raised their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

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.