Alibaba Group Holding Limited $BABA Shares Bought by Trek Financial LLC

Trek Financial LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,364 shares of the specialty retailer’s stock after purchasing an additional 10,713 shares during the quarter. Trek Financial LLC’s holdings in Alibaba Group were worth $10,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its position in Alibaba Group by 4.3% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 29,045 shares of the specialty retailer’s stock valued at $3,124,000 after purchasing an additional 1,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Alibaba Group in the 3rd quarter worth about $12,327,000. Vise Technologies Inc. increased its stake in shares of Alibaba Group by 19.2% in the third quarter. Vise Technologies Inc. now owns 94,041 shares of the specialty retailer’s stock valued at $10,113,000 after purchasing an additional 15,154 shares during the period. Summit Global Investments bought a new stake in shares of Alibaba Group during the third quarter valued at approximately $379,000. Finally, Canopy Partners LLC raised its holdings in shares of Alibaba Group by 8.6% during the third quarter. Canopy Partners LLC now owns 2,271 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 179 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Alibaba Group from $190.00 to $193.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Susquehanna lifted their target price on Alibaba Group from $185.00 to $190.00 and gave the company a “positive” rating in a research note on Friday, August 28th. Piper Sandler lowered Alibaba Group to a “hold” rating in a research report on Thursday, October 8th. Jefferies Financial Group reissued a “buy” rating and issued a $192.00 price target on shares of Alibaba Group in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on Alibaba Group from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $182.89.

Insider Activity at Alibaba Group

In related news, CEO Yongming Wu bought 350,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $14.24 per share, with a total value of $4,984,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,364,418 shares of the company’s stock, valued at approximately $19,429,312.32. This trade represents a 34.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Siying Yu sold 6,764 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $13.58, for a total value of $91,855.12. Following the sale, the general counsel directly owned 613,965 shares of the company’s stock, valued at approximately $8,337,644.70. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 999,971 shares of company stock valued at $13,563,304 over the last ninety days. Company insiders own 12.50% of the company’s stock.

Alibaba Group Stock Up 0.0%

Shares of BABA stock opened at $98.08 on Monday. Alibaba Group Holding Limited has a 1 year low of $91.99 and a 1 year high of $181.10. The stock has a market cap of $244.00 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.47. The business’s fifty day moving average is $109.66 and its 200-day moving average is $126.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 1.36.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, August 14th. The specialty retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.68). The firm had revenue of $39.64 billion during the quarter, compared to the consensus estimate of $39.52 billion. Alibaba Group had a return on equity of 4.79% and a net margin of 7.00%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $14.75 EPS. Equities analysts expect that Alibaba Group Holding Limited will post 5.76 earnings per share for the current fiscal year.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.