D.B. Root & Company LLC Invests $225,000 in Alibaba Group Holding Limited (NYSE:BABA)

D.B. Root & Company LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,120 shares of the specialty retailer’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in shares of Alibaba Group during the first quarter worth $529,000. Geneos Wealth Management Inc. boosted its position in shares of Alibaba Group by 118.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,430 shares of the specialty retailer’s stock valued at $465,000 after purchasing an additional 3,482 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Alibaba Group by 8.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock worth $599,000 after purchasing an additional 632 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Alibaba Group by 18.4% in the first quarter. Oppenheimer & Co. Inc. now owns 62,009 shares of the specialty retailer’s stock worth $4,487,000 after purchasing an additional 9,650 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Alibaba Group by 10.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 31,884 shares of the specialty retailer’s stock valued at $2,307,000 after buying an additional 2,929 shares during the period. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $100.16 on Friday. The business’s fifty day simple moving average is $96.65 and its 200 day simple moving average is $84.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The firm has a market capitalization of $239.87 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the business posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Alibaba Group Holding Limited will post 8.08 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.