Alibaba Group Holding Limited (NYSE:BABA) Holdings Decreased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 27.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,849 shares of the specialty retailer’s stock after selling 64,051 shares during the period. Alibaba Group makes up 1.1% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 19th biggest position. Harvest Fund Management Co. Ltd’s holdings in Alibaba Group were worth $17,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. First Command Advisory Services Inc. bought a new stake in Alibaba Group in the second quarter worth about $25,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter valued at approximately $27,000. Concord Wealth Partners grew its position in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in shares of Alibaba Group in the third quarter valued at $36,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BABA. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Robert W. Baird boosted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Down 2.9 %

Shares of BABA stock opened at $83.13 on Monday. The firm has a market capitalization of $198.91 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The firm’s fifty day simple moving average is $98.42 and its 200 day simple moving average is $85.92. 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 announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. As a group, sell-side analysts predict 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.