Sompo Asset Management Co. Ltd. Cuts Position in Alibaba Group Holding Limited (NYSE:BABA)

Sompo Asset Management Co. Ltd. lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 5.2% during the third quarter, Holdings Channel.com reports. The firm owned 3,440 shares of the specialty retailer’s stock after selling 190 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Alibaba Group were worth $365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Alibaba Group in the first quarter worth approximately $312,000. Advisors Asset Management Inc. lifted its stake in shares of Alibaba Group by 17.6% in the first quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock worth $245,000 after buying an additional 506 shares in the last quarter. SVB Wealth LLC lifted its stake in shares of Alibaba Group by 252.6% in the first quarter. SVB Wealth LLC now owns 21,057 shares of the specialty retailer’s stock worth $1,524,000 after buying an additional 15,085 shares in the last quarter. Invenomic Capital Management LP lifted its stake in shares of Alibaba Group by 9.7% in the first quarter. Invenomic Capital Management LP now owns 110,001 shares of the specialty retailer’s stock worth $7,960,000 after buying an additional 9,761 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership lifted its position in Alibaba Group by 18.1% during the first quarter. Elkhorn Partners Limited Partnership now owns 3,400 shares of the specialty retailer’s stock valued at $246,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.9 %

Shares of Alibaba Group stock opened at $83.13 on Monday. The firm’s 50 day moving average price is $98.42 and its 200-day moving average price is $85.92. The company has a quick ratio of 1.41, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a market cap of $199.05 billion, a P/E ratio of 16.86, a PEG ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the previous year, the business posted $1.82 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note 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. 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 report on Friday, August 16th. Finally, Loop Capital restated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.