Alibaba Group Holding Limited $BABA Position Boosted by Vise Technologies Inc.

Vise Technologies Inc. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.2% in the 3rd quarter, Holdings Channel reports. The firm owned 94,041 shares of the specialty retailer’s stock after buying an additional 15,154 shares during the period. Vise Technologies Inc.’s holdings in Alibaba Group were worth $10,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hoey Investments Inc. grew its stake in shares of Alibaba Group by 95.2% during the first quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Continuum Advisory LLC bought a new position in Alibaba Group in the 2nd quarter valued at approximately $28,000. GK Wealth Management LLC bought a new position in Alibaba Group in the 3rd quarter valued at approximately $32,000. Latitude Advisors LLC acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $43,000. Finally, Global Assets Advisory LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $56,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of BABA opened at $98.08 on Monday. The firm has a market cap of $244.00 billion, a PE 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. The business’s 50 day moving average price is $109.66 and its two-hundred day moving average price is $126.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 1.36.

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 the consensus estimate of $1.94 by ($0.68). The company had revenue of $39.64 billion during the quarter, compared to the consensus estimate of $39.52 billion. Alibaba Group had a net margin of 7.00% and a return on equity of 4.79%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $14.75 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 5.76 EPS for the current year.

Insider Buying and Selling at Alibaba Group

In other Alibaba Group news, CEO Yongming Wu acquired 350,000 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $14.24 per share, for a total transaction of $4,984,000.00. Following the completion of the acquisition, the chief executive officer owned 1,364,418 shares in the company, valued at approximately $19,429,312.32. This represents a 34.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Siying Yu sold 6,764 shares of the company’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $13.58, for a total transaction of $91,855.12. Following the completion of the sale, the general counsel owned 613,965 shares in the company, valued at $8,337,644.70. This represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 999,971 shares of company stock worth $13,563,304 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BABA. Citigroup boosted their target price on shares of Alibaba Group from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. HSBC set a $170.00 price objective on shares of Alibaba Group in a research note on Thursday, July 9th. Weiss Ratings upgraded Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. JPMorgan Chase & Co. lowered their price objective on Alibaba Group from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, Piper Sandler cut Alibaba Group to a “hold” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $182.89.

Alibaba Group 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.