Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,891 shares of the specialty retailer’s stock after selling 670 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Alibaba Group were worth $732,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BABA. Generate Investment Management Ltd acquired a new stake in Alibaba Group during the third quarter valued at approximately $12,656,000. Nations Financial Group Inc. IA ADV lifted its position in shares of Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after acquiring an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Alibaba Group by 7,734.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock worth $28,632,000 after acquiring an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in shares of Alibaba Group during the third quarter worth $115,995,000. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BABA shares. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, October 7th. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. 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 report on Tuesday, November 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Down 1.6 %

NYSE:BABA opened at $87.82 on Monday. The company has a market capitalization of $209.87 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.44 and a beta of 0.30. The stock’s 50 day moving average price is $94.82 and its 200 day moving average price is $86.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

About Alibaba Group

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.