Oppenheimer Asset Management Inc. Increases Position in Alibaba Group Holding Limited (NYSE:BABA)

Oppenheimer Asset Management Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,237 shares of the specialty retailer’s stock after purchasing an additional 5,089 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Alibaba Group were worth $5,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BABA. Assenagon Asset Management S.A. grew its holdings in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after buying an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC raised its stake in Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after purchasing an additional 1,679,117 shares during the period. AMF Tjanstepension AB grew its stake in shares of Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after buying an additional 1,156,479 shares during the period. Marshall Wace LLP increased its holdings in shares of Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after buying an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 1.6 %

BABA stock opened at $90.54 on Friday. The company’s 50 day moving average price is $97.87 and its 200 day moving average price is $85.44. The firm has a market capitalization of $216.84 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.41 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America raised their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho boosted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Barclays increased their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group 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.