Strategic Blueprint LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,949 shares of the specialty retailer’s stock, valued at approximately $442,000.
Several other hedge funds have also recently modified their holdings of BABA. Logan Capital Management Inc. acquired a new position in shares of Alibaba Group during the first quarter worth $29,000. Sageworth Trust Co acquired a new position in Alibaba Group in the first quarter valued at $43,000. Burleson & Company LLC acquired a new position in Alibaba Group in the first quarter valued at $45,000. Cowen Prime Advisors LLC acquired a new position in Alibaba Group in the second quarter valued at $45,000. Finally, Financial Management Professionals Inc. boosted its stake in Alibaba Group by 314.6% in the second quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 24.48% of the company’s stock.
BABA has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Alibaba Group from $306.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Zacks Investment Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating and set a $175.00 target price for the company. in a research note on Tuesday, July 13th. Benchmark cut their price target on shares of Alibaba Group from $282.00 to $277.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. CLSA cut their price target on shares of Alibaba Group from $300.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, August 4th. Finally, KeyCorp cut their price target on shares of Alibaba Group from $270.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, August 4th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $297.55.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $14.86. The company had revenue of $205.74 billion for the quarter, compared to analyst estimates of $208.67 billion. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. Alibaba Group’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the business earned $14.82 EPS. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.3 earnings per share for the current year.
Alibaba Group Company Profile
Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.
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