Sheets Smith Wealth Management acquired a new position in Alibaba Group Holding Ltd (NYSE:BABA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,854 shares of the specialty retailer’s stock, valued at approximately $338,000.
Other large investors have also recently added to or reduced their stakes in the company. Farmers National Bank purchased a new position in Alibaba Group during the 1st quarter valued at $25,000. Cribstone Capital Management LLC purchased a new position in Alibaba Group during the 1st quarter valued at $27,000. Manchester Capital Management LLC boosted its holdings in Alibaba Group by 171.4% during the 1st quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Archford Capital Strategies LLC boosted its holdings in Alibaba Group by 80.4% during the 4th quarter. Archford Capital Strategies LLC now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Alibaba Group during the 1st quarter valued at $34,000. 40.68% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on BABA shares. Zacks Investment Research upgraded Alibaba Group from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Raymond James dropped their price objective on Alibaba Group from $285.00 to $280.00 and set a “strong-buy” rating for the company in a report on Thursday, May 16th. TH Capital boosted their price objective on Alibaba Group from $180.00 to $220.00 in a report on Monday, May 13th. Robert W. Baird upped their target price on Alibaba Group from $178.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, March 29th. Finally, Stifel Nicolaus upped their target price on Alibaba Group from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Alibaba Group has an average rating of “Buy” and a consensus price target of $218.39.
Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion during the quarter, compared to analyst estimates of $91.68 billion. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The business’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.73 EPS. On average, equities research analysts forecast that Alibaba Group Holding Ltd will post 5.1 EPS for the current year.
About Alibaba Group
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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