Cohen Capital Management Inc. Trims Position in Alibaba Group Holding Limited (NYSE:BABA)

Cohen Capital Management Inc. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,545 shares of the specialty retailer’s stock after selling 2,878 shares during the quarter. Cohen Capital Management Inc.’s holdings in Alibaba Group were worth $907,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BABA. Primecap Management Co. CA raised its position in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. Discerene Group LP lifted its position in Alibaba Group by 21.2% in the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock valued at $218,627,000 after purchasing an additional 529,237 shares during the period. AMF Tjanstepension AB boosted its holdings in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares in the last quarter. Finally, Eminence Capital LP increased its position in Alibaba Group by 9.0% during the 2nd quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock worth $131,788,000 after purchasing an additional 150,488 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BABA. Loop Capital reissued a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, October 7th. Susquehanna lowered their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Truist Financial reduced their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Barclays upped their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Stock Performance

Alibaba Group stock opened at $98.75 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock has a fifty day moving average of $95.62 and a two-hundred day moving average of $84.20. The company has a market capitalization of $236.50 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 0.46 and a beta of 0.36.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts anticipate that Alibaba Group Holding Limited will post 8.08 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.