Cerity Partners LLC Lowers Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Cerity Partners LLC decreased its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,571 shares of the specialty retailer's stock after selling 37,537 shares during the quarter. Cerity Partners LLC's holdings in Alibaba Group were worth $46,223,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the second quarter worth $25,000. GPS Wealth Strategies Group LLC grew its position in Alibaba Group by 139.3% during the 2nd 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 last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock worth $27,000 after buying an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at approximately $36,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of BABA stock traded down $2.45 on Friday, reaching $83.13. The company's stock had a trading volume of 24,999,202 shares, compared to its average volume of 15,576,050. The company has a market capitalization of $199.05 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The stock's fifty day simple moving average is $98.42 and its 200-day simple moving average is $85.87. 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.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly 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 company had revenue of $236.50 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.82 earnings per share. Analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BABA has been the subject of several research analyst reports. Truist Financial reduced 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. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a report on Friday, August 16th. Finally, Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $114.07.

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.