Oppenheimer & Co. Inc. Sells 16,452 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Oppenheimer & Co. Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,792 shares of the specialty retailer's stock after selling 16,452 shares during the period. Oppenheimer & Co. Inc.'s holdings in Alibaba Group were worth $8,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its holdings in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock valued at $12,275,000 after purchasing an additional 139,134 shares during the last quarter. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group during the 3rd quarter valued at $12,656,000. SRN Advisors LLC increased its holdings in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer's stock worth $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer's stock valued at $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer's stock worth $87,327,000 after purchasing an additional 50,000 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Down 1.4 %

Alibaba Group stock traded down $1.27 during midday trading on Thursday, reaching $90.73. The stock had a trading volume of 6,234,558 shares, compared to its average volume of 17,584,137. The company has a fifty day moving average price of $97.87 and a two-hundred day moving average price of $85.44. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $217.30 billion, a P/E ratio of 24.08, a PEG ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share 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 analyst estimates of $248.32 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. Alibaba Group's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BABA. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a "market perform" rating in a report on Friday, August 16th. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, August 16th. Jefferies Financial Group reiterated a "buy" rating and issued a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Morgan Stanley restated an "equal weight" rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.53.

Alibaba Group 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.