Alibaba Group Holding Limited $BABA Stock Acquired by CenterBook Partners LP

CenterBook Partners LP raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 36.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 32,525 shares of the specialty retailer’s stock after acquiring an additional 8,712 shares during the quarter. CenterBook Partners LP’s holdings in Alibaba Group were worth $3,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Alibaba Group by 7.9% during the third quarter. International Assets Investment Management LLC now owns 19,446 shares of the specialty retailer’s stock worth $2,089,000 after acquiring an additional 1,419 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in Alibaba Group in the third quarter worth $159,000. Argonautica Private Wealth Management Inc. grew its holdings in Alibaba Group by 10.9% in the third quarter. Argonautica Private Wealth Management Inc. now owns 6,382 shares of the specialty retailer’s stock worth $686,000 after purchasing an additional 629 shares during the period. Kestra Advisory Services LLC increased its stake in Alibaba Group by 2.8% in the third quarter. Kestra Advisory Services LLC now owns 45,421 shares of the specialty retailer’s stock valued at $4,885,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Collaborative Fund Advisors LLC bought a new stake in Alibaba Group in the third quarter valued at $651,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of BABA stock opened at $109.24 on Friday. The firm has a 50-day moving average of $108.28 and a 200-day moving average of $125.04. The company has a market cap of $271.76 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.42 and a beta of 0.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.36 and a quick ratio of 1.36. Alibaba Group Holding Limited has a one year low of $91.99 and a one year high of $181.10.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, August 14th. The specialty retailer reported $1.26 EPS for the quarter, missing the consensus estimate 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 net margin of 7.00% and a return on equity of 4.79%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $14.75 earnings per share. Equities research analysts forecast that Alibaba Group Holding Limited will post 5.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BABA shares. Piper Sandler lowered shares of Alibaba Group to a “hold” rating in a report on Thursday, October 8th. Weiss Ratings upgraded Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $192.00 target price on shares of Alibaba Group in a research report on Thursday, October 8th. JPMorgan Chase & Co. dropped their price target on Alibaba Group from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $165.00 price target on shares of Alibaba Group in a report on Monday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.89.

Insider Activity

In other Alibaba Group news, General Counsel Siying Yu sold 6,764 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $13.58, for a total value of $91,855.12. Following the completion of the sale, the general counsel owned 613,965 shares in the company, valued at approximately $8,337,644.70. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Yongming Wu purchased 350,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $14.24 per share, for a total transaction of $4,984,000.00. Following the acquisition, the chief executive officer owned 1,364,418 shares of the company’s stock, valued at $19,429,312.32. This represents a 34.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 999,971 shares of company stock valued at $13,563,304. 12.50% of the stock is owned by corporate insiders.

About Alibaba Group

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates digital platforms that connect consumers, merchants, businesses and other participants in commerce.

Its businesses include China-focused marketplaces such as Taobao and Tmall, international platforms including AliExpress and Alibaba.com, and Alibaba Cloud, which provides cloud computing and related technology services. The group also has operations in areas such as logistics, local services and digital media.

Alibaba serves customers and businesses in China and across international markets.