Harvest Fund Management Co. Ltd Has $17.71 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Harvest Fund Management Co. Ltd reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 27.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 166,849 shares of the specialty retailer’s stock after selling 64,051 shares during the period. Alibaba Group accounts for approximately 1.1% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 19th largest holding. Harvest Fund Management Co. Ltd’s holdings in Alibaba Group were worth $17,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in shares of Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares during the period. ICA Group Wealth Management LLC increased its stake in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Alibaba Group by 3.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 143 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. Mizuho boosted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Barclays cut their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Stock Down 2.9 %

BABA stock opened at $83.13 on Monday. The business’s 50 day simple moving average is $98.42 and its 200 day simple moving average is $85.92. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The firm has a market capitalization of $198.91 billion, a PE ratio of 16.86, a PEG ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 earnings per share. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Alibaba Group Company 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.