FormulaFolio Investments LLC Takes $501,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

FormulaFolio Investments LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,155 shares of the specialty retailer’s stock, valued at approximately $501,000.

Other hedge funds have also recently made changes to their positions in the company. Hendershot Investments Inc. boosted its position in Alibaba Group by 2.9% during the fourth quarter. Hendershot Investments Inc. now owns 1,435 shares of the specialty retailer’s stock worth $334,000 after purchasing an additional 41 shares during the period. Prio Wealth Limited Partnership boosted its position in Alibaba Group by 1.6% during the fourth quarter. Prio Wealth Limited Partnership now owns 2,599 shares of the specialty retailer’s stock worth $605,000 after purchasing an additional 41 shares during the period. Meeder Asset Management Inc. boosted its position in Alibaba Group by 62.9% during the fourth quarter. Meeder Asset Management Inc. now owns 114 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 44 shares during the period. Dowling & Yahnke LLC boosted its position in Alibaba Group by 3.2% during the fourth quarter. Dowling & Yahnke LLC now owns 1,440 shares of the specialty retailer’s stock worth $335,000 after purchasing an additional 45 shares during the period. Finally, Cobblestone Capital Advisors LLC NY boosted its position in shares of Alibaba Group by 1.5% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 3,075 shares of the specialty retailer’s stock valued at $716,000 after acquiring an additional 45 shares during the period. Institutional investors own 40.38% of the company’s stock.

A number of equities analysts have recently commented on BABA shares. Truist raised their price objective on shares of Alibaba Group from $326.00 to $330.00 in a research report on Friday, March 19th. Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating and set a $239.00 target price for the company in a research report on Tuesday, March 30th. Citigroup lifted their target price on shares of Alibaba Group from $316.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Nomura reiterated a “buy” rating and set a $338.00 target price on shares of Alibaba Group in a research report on Thursday, January 14th. Finally, Mizuho lifted their target price on shares of Alibaba Group from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Three analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Alibaba Group presently has a consensus rating of “Buy” and an average target price of $321.00.

Shares of Alibaba Group stock opened at $225.42 on Thursday. The stock has a market cap of $609.90 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 1.59 and a beta of 0.99. The firm’s 50-day moving average is $237.68 and its 200 day moving average is $261.24. Alibaba Group Holding Limited has a 1 year low of $189.53 and a 1 year high of $319.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.99 and a quick ratio of 1.99.

Alibaba Group (NYSE:BABA) last issued its earnings results on Monday, February 1st. The specialty retailer reported $22.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $19.25. Alibaba Group had a return on equity of 12.74% and a net margin of 22.56%. The business had revenue of $221.08 billion during the quarter, compared to analyst estimates of $214.39 billion. During the same quarter in the previous year, the firm earned $18.19 EPS. Alibaba Group’s revenue was up 36.9% on a year-over-year basis. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.84 EPS for the current fiscal year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through 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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