FinTrust Capital Advisors LLC raised its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 2,508.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,287 shares of the specialty retailer’s stock after acquiring an additional 8,931 shares during the period. FinTrust Capital Advisors LLC’s holdings in Alibaba Group were worth $2,003,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in BABA. JJJ Advisors Inc. grew its holdings in shares of Alibaba Group by 180.0% in the second quarter. JJJ Advisors Inc. now owns 140 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in shares of Alibaba Group in the second quarter valued at approximately $36,000. Hoey Investments Inc. acquired a new position in shares of Alibaba Group in the second quarter valued at approximately $38,000. Proffitt & Goodson Inc. grew its holdings in shares of Alibaba Group by 99.2% in the second quarter. Proffitt & Goodson Inc. now owns 239 shares of the specialty retailer’s stock valued at $52,000 after purchasing an additional 119 shares in the last quarter. Finally, AGF Investments America Inc. acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 46.02% of the company’s stock.
BABA traded up $0.18 during trading on Wednesday, hitting $278.14. The stock had a trading volume of 9,580,185 shares, compared to its average volume of 17,353,477. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $752.06 billion, a P/E ratio of 29.95, a PEG ratio of 2.13 and a beta of 1.56. The company’s 50-day moving average price is $267.17 and its 200 day moving average price is $225.32. Alibaba Group Holding Ltd has a twelve month low of $161.68 and a twelve month high of $299.00.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $13.28. The company had revenue of $153.75 billion for the quarter, compared to analysts’ expectations of $147.30 billion. Alibaba Group had a net margin of 31.96% and a return on equity of 14.13%. Alibaba Group’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $12.55 EPS. As a group, equities analysts expect that Alibaba Group Holding Ltd will post 7.48 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on BABA. Needham & Company LLC restated a “buy” rating and issued a $275.00 price objective on shares of Alibaba Group in a report on Friday, August 21st. Benchmark lifted their price target on shares of Alibaba Group from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Raymond James lifted their price target on shares of Alibaba Group from $290.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 21st. Robert W. Baird lifted their price target on shares of Alibaba Group from $230.00 to $275.00 in a research note on Thursday, July 16th. Finally, Truist lifted their price target on shares of Alibaba Group from $240.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Three analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Alibaba Group presently has an average rating of “Buy” and an average price target of $269.99.
Alibaba Group 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.
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