Alibaba Group Holding Limited (NYSE:BABA) Stake Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,334 shares of the specialty retailer’s stock after selling 26,650 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alibaba Group were worth $14,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BABA. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group in the 2nd quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $31,000. Finally, Asset Dedication LLC increased its holdings in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BABA. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Finally, Barclays boosted their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Alibaba Group Stock Up 1.1 %

Shares of Alibaba Group stock opened at $97.42 on Friday. The stock has a market capitalization of $247.20 billion, a P/E ratio of 22.71, a PEG ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $94.08 and a two-hundred day moving average price of $83.16. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the company earned $2.47 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

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.