Canopy Partners LLC Purchases Shares of 1,905 Alibaba Group Holding Limited (NYSE:BABA)

Canopy Partners LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,905 shares of the specialty retailer’s stock, valued at approximately $202,000.

A number of other large investors have also recently bought and sold shares of BABA. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Alibaba Group by 139.3% during the second 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 period. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group in the 2nd quarter valued at about $27,000. Concord Wealth Partners raised its stake 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 period. Finally, Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the third quarter valued at approximately $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BABA has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho lifted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Performance

Alibaba Group stock opened at $83.19 on Friday. The firm’s 50 day simple moving average is $98.42 and its 200 day simple moving average is $85.83. The company has a current ratio of 1.37, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The firm has a market capitalization of $199.19 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 earnings per share. As a group, analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal 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.