Oak Harvest Investment Services Purchases Shares of 4,500 Alibaba Group Holding Limited (NYSE:BABA)

Oak Harvest Investment Services purchased a new stake in Alibaba Group Holding Limited (NYSE:BABAFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,500 shares of the specialty retailer’s stock, valued at approximately $478,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA boosted its holdings in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after buying an additional 5,715,155 shares in the last quarter. Discerene Group LP raised its position in shares of Alibaba Group by 21.2% in the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after buying an additional 529,237 shares in the last quarter. AMF Tjanstepension AB raised its position in shares of Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after buying an additional 178,999 shares in the last quarter. Finally, Eminence Capital LP raised its position in shares of Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after buying an additional 150,488 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $98.69 on Thursday. 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 Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The stock has a market cap of $250.43 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 0.55 and a beta of 0.35. The company’s fifty day moving average is $95.08 and its 200 day moving average is $83.70.

Alibaba Group (NYSE:BABAGet Free Report) last issued 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 company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price target 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. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Barclays boosted their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Susquehanna lowered their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Read Our Latest Stock Report on BABA

About Alibaba Group

(Free Report)

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.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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