Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,000 shares of the specialty retailer’s stock after selling 6,624 shares during the period. Itau Unibanco Holding S.A.’s holdings in Alibaba Group were worth $4,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group during the 2nd quarter worth $27,000. Concord Wealth Partners raised its position in Alibaba Group by 155.0% during the 3rd 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 purchased a new position in Alibaba Group during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Robert W. Baird increased 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. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Sanford C. Bernstein increased their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Down 1.6 %

Shares of NYSE BABA opened at $85.95 on Tuesday. The stock has a market cap of $205.65 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.43 and a beta of 0.30. The business has a 50 day simple moving average of $98.45 and a 200 day simple moving average of $86.11. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. 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 (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period in the previous year, the company earned $1.82 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Alibaba Group 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.