Alibaba Group Holding Ltd (NYSE:BABA) Holdings Decreased by NuWave Investment Management LLC

NuWave Investment Management LLC lowered its position in Alibaba Group Holding Ltd (NYSE:BABA) by 70.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763 shares of the specialty retailer’s stock after selling 1,800 shares during the quarter. NuWave Investment Management LLC’s holdings in Alibaba Group were worth $164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nkcfo LLC purchased a new position in Alibaba Group in the first quarter valued at about $29,000. Baystate Wealth Management LLC purchased a new position in Alibaba Group in the first quarter valued at about $34,000. Hoey Investments Inc. purchased a new position in Alibaba Group in the second quarter valued at about $38,000. Capital Square LLC purchased a new position in Alibaba Group in the first quarter valued at about $41,000. Finally, MBE Wealth Management LLC purchased a new position in Alibaba Group in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 47.10% of the company’s stock.

BABA stock opened at $251.67 on Tuesday. Alibaba Group Holding Ltd has a 1-year low of $151.85 and a 1-year high of $268.00. The firm has a market cap of $664.11 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.09 and a beta of 1.56. The business’s 50 day moving average is $221.73 and its 200-day moving average is $210.58. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.14.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $8.61. The business had revenue of $114.31 billion for the quarter, compared to analyst estimates of $108.31 billion. Alibaba Group had a return on equity of 14.56% and a net margin of 29.16%. Alibaba Group’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the company earned $8.57 EPS. Sell-side analysts forecast that Alibaba Group Holding Ltd will post 6.94 EPS for the current year.

A number of brokerages have weighed in on BABA. Goldman Sachs Group reaffirmed a “buy” rating and issued a $276.00 price target on shares of Alibaba Group in a research report on Tuesday, July 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $230.00 price target on shares of Alibaba Group in a research report on Tuesday, April 14th. Susquehanna Bancshares boosted their price target on Alibaba Group from $260.00 to $275.00 in a research report on Tuesday, May 26th. Raymond James reduced their price target on Alibaba Group from $310.00 to $290.00 and set a “strong-buy” rating for the company in a research report on Friday, April 17th. Finally, Nomura reissued a “buy” rating and set a $309.00 price objective on shares of Alibaba Group in a research report on Thursday, July 9th. Three research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $251.42.

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

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