Concurrent Investment Advisors LLC Increases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Concurrent Investment Advisors LLC increased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,019 shares of the specialty retailer’s stock after acquiring an additional 354 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alibaba Group were worth $851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after acquiring an additional 139,134 shares during the period. Generate Investment Management Ltd purchased a new position in Alibaba Group in the third quarter valued at about $12,656,000. SRN Advisors LLC raised its holdings in Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after buying an additional 50,000 shares during the last quarter. Finally, United Advisor Group LLC purchased a new stake in Alibaba Group during the third quarter valued at approximately $631,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Susquehanna reduced their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America boosted their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.13.

Alibaba Group Stock Performance

Shares of BABA stock opened at $94.19 on Friday. The stock has a market cap of $225.58 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The business has a 50-day simple moving average of $97.25 and a 200-day simple moving average of $84.97. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued 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. 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 for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company earned $2.47 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Alibaba Group 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.