Rep. Josh Gottheimer Purchases Shares of Alibaba Group Holding Limited (NYSE:BABA)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Alibaba Group Holding Limited NYSE: BABA. In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Alibaba Group stock on October 16th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Texas Capital Bancshares NASDAQ: TCBI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ITT NYSE: ITT on 10/31/2024.
• Sold $1,001 - $15,000 in shares of Stifel Financial NYSE: SF on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ICU Medical NASDAQ: ICUI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of AppFolio NASDAQ: APPF on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Gates Industrial NYSE: GTES on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/29/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Disco OTCMKTS: DSCSY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Enerpac Tool Group NYSE: EPAC on 10/25/2024.

Alibaba Group Stock Performance

BABA traded down $5.96 on Friday, hitting $94.18. 24,839,828 shares of the company traded hands, compared to its average volume of 17,664,545. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company has a 50 day moving average of $97.25 and a 200-day moving average of $84.97. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $225.56 billion, a PE ratio of 24.65, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts' expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 earnings per share. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Institutional Trading of Alibaba Group

A number of large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its holdings in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock valued at $12,275,000 after acquiring an additional 139,134 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in shares of Alibaba Group in the third quarter valued at $12,656,000. SRN Advisors LLC increased its stake in Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer's stock valued at $1,611,000 after purchasing an additional 9,663 shares during the last quarter. ORG Partners LLC lifted its position in Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer's stock worth $813,000 after buying an additional 11,064 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer's stock worth $87,327,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BABA shares. Jefferies Financial Group reissued a "buy" rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, August 16th. Robert W. Baird increased their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Susquehanna reduced their target price on Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a report on Monday, August 19th. Finally, Benchmark reiterated a "buy" rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group has an average rating of "Moderate Buy" and an average price target of $113.13.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.