Alibaba Group Holding Ltd (NYSE:BABA) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC trimmed its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,914 shares of the specialty retailer’s stock after selling 64 shares during the quarter. Red Door Wealth Management LLC’s holdings in Alibaba Group were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. JJJ Advisors Inc. increased its position in Alibaba Group by 180.0% in the 2nd quarter. JJJ Advisors Inc. now owns 140 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Beese Fulmer Investment Management Inc. acquired a new stake in Alibaba Group in the 2nd quarter valued at approximately $36,000. Hoey Investments Inc. bought a new position in Alibaba Group during the 2nd quarter valued at $38,000. CX Institutional boosted its stake in Alibaba Group by 500.0% during the 3rd quarter. CX Institutional now owns 150 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 125 shares in the last quarter. Finally, Pinnacle Bank boosted its stake in Alibaba Group by 144.8% during the 3rd quarter. Pinnacle Bank now owns 164 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 46.02% of the company’s stock.

Shares of NYSE:BABA opened at $307.31 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Ltd has a 1 year low of $168.12 and a 1 year high of $310.01. The business has a fifty day simple moving average of $283.76 and a 200 day simple moving average of $239.24. The firm has a market cap of $831.47 billion, a price-to-earnings ratio of 33.12, a P/E/G ratio of 2.14 and a beta of 1.50.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $13.28. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. The business had revenue of $153.75 billion during the quarter, compared to analyst estimates of $147.30 billion. During the same period last year, the company earned $12.55 earnings per share. Alibaba Group’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts forecast that Alibaba Group Holding Ltd will post 7.57 EPS for the current year.

A number of equities analysts have issued reports on BABA shares. Bank of America increased their price target on Alibaba Group from $301.00 to $317.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Loop Capital increased their price target on Alibaba Group from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Nomura reaffirmed a “buy” rating and set a $309.00 price target on shares of Alibaba Group in a research note on Sunday, August 23rd. Raymond James increased their price target on Alibaba Group from $290.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, August 21st. Finally, China Renaissance Securities increased their price target on Alibaba Group from $315.00 to $355.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $295.09.

Alibaba Group Company Profile

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.

Further Reading: What is Liquidity?

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

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