Skandinaviska Enskilda Banken AB publ Sells 42,669 Shares of Alibaba Group Holding Ltd (BABA)

Skandinaviska Enskilda Banken AB publ lessened its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,436 shares of the specialty retailer’s stock after selling 42,669 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Alibaba Group were worth $39,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BABA. Dupont Capital Management Corp lifted its position in shares of Alibaba Group by 9.0% during the 3rd quarter. Dupont Capital Management Corp now owns 125,492 shares of the specialty retailer’s stock valued at $20,676,000 after buying an additional 10,407 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Alibaba Group by 16.1% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 8,556 shares of the specialty retailer’s stock valued at $1,386,000 after buying an additional 1,189 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Alibaba Group by 9.6% during the 3rd quarter. Essex Financial Services Inc. now owns 18,214 shares of the specialty retailer’s stock valued at $3,001,000 after buying an additional 1,594 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of Alibaba Group by 77.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 11,000 shares of the specialty retailer’s stock valued at $1,813,000 after buying an additional 4,800 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. lifted its position in shares of Alibaba Group by 8.2% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 5,615 shares of the specialty retailer’s stock valued at $925,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 38.76% of the company’s stock.

BABA has been the topic of a number of research reports. Goldman Sachs Group raised their price objective on Alibaba Group from $241.00 to $247.00 and gave the company a “buy” rating in a report on Wednesday, October 3rd. Macquarie decreased their price objective on Alibaba Group from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. SunTrust Banks decreased their price objective on Alibaba Group from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Barclays set a $210.00 price objective on Alibaba Group and gave the company a “buy” rating in a report on Wednesday, October 10th. Finally, ValuEngine upgraded Alibaba Group from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $216.02.

Shares of BABA opened at $144.85 on Friday. Alibaba Group Holding Ltd has a 52-week low of $130.06 and a 52-week high of $211.70. The firm has a market capitalization of $390.58 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 1.41 and a beta of 2.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.42 and a quick ratio of 1.44.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period last year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, sell-side analysts forecast that Alibaba Group Holding Ltd will post 3.48 EPS for the current fiscal year.

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Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading: Why do company’s buyback their stock?

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

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