Red Door Wealth Management LLC Cuts Holdings in Alibaba Group Holding Ltd (NYSE:BABA)

Red Door Wealth Management LLC lessened its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,914 shares of the specialty retailer’s stock after selling 64 shares during the period. Red Door Wealth Management LLC’s holdings in Alibaba Group were worth $561,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. JJJ Advisors Inc. boosted its stake in shares of Alibaba Group by 180.0% in the 2nd 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. purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at $36,000. Hoey Investments Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at $38,000. CX Institutional boosted its stake in shares of Alibaba Group by 500.0% in the 3rd quarter. CX Institutional now owns 150 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 125 shares in the last quarter. Finally, Pinnacle Bank boosted its stake in shares of Alibaba Group by 144.8% in the 3rd quarter. Pinnacle Bank now owns 164 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 97 shares in the last quarter. 46.02% of the stock is owned by institutional investors and hedge funds.

Alibaba Group stock opened at $307.31 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Ltd has a 12 month low of $168.12 and a 12 month high of $310.01. The stock’s 50 day simple moving average is $283.76 and its two-hundred day simple moving average is $239.24. The firm has a market cap of $831.47 billion, a PE ratio of 33.12, a P/E/G ratio of 2.14 and a beta of 1.50.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $13.28. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. The business had revenue of $153.75 billion for the quarter, compared to analyst estimates of $147.30 billion. During the same quarter in the prior year, the firm posted $12.55 EPS. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities research analysts forecast that Alibaba Group Holding Ltd will post 7.57 EPS for the current year.

A number of research firms recently commented on BABA. Stifel Nicolaus upped their price target on shares of Alibaba Group from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. KeyCorp upped their price objective on shares of Alibaba Group from $295.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. Argus increased their price objective on shares of Alibaba Group from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Citigroup reissued a “buy” rating and set a $316.00 price objective on shares of Alibaba Group in a research report on Friday, July 10th. Finally, Benchmark raised their price objective on shares of Alibaba Group from $290.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $295.09.

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

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